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Comparing Three Depreciation MethodsDexter Industries purchased packaging equipment on January 8 for $ 5 5 8 , 0 0 0 . The equipment was expected

Comparing ThreeDepreciationMethodsDexter Industries purchased packaging equipment on January 8 for $558,000. The equipment was expected to have a useful life of four years, or 8,000 operating hours, and aresidual valueof $46,000. The equipment was used for 2,800 hours during Year 1,1,680 hours in Year 2,2,240 hours in Year 3, and 1,280 hours in Year 4.Required:1.Determine the amount of depreciation expense for the four years ending December 31 by (a) thestraight-line method, (b) theunits-of-activity method, and (c) thedouble-declining-balance method. Also determine the total depreciation expense for the four years by each method.Round the answer for each year to the nearest whole dollar.

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