Comparing Three Desirediation Methods Dexter Industries purchased packaging equipment on January 8 for $418,600. The equipment was expected to have a useful life of thron years, or 6,000 operating hours, and a residual value of $34,600. The equipment was used for 2.400 hours during Year 1. 1.860 hours In Year 2 and 1.740 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ending December 31 by (a) the straight line method, (b) the unit of activity method, and (c) the double declining balance method. Also determine the total depreciation expense for the three years by each method. For all methods, round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units of Activity Method Double-Declining-Balance Method Year 128,000 153,600 139,533 X 128,000 119,040 185,045 X $ Year 3 128,000 S8,422 X 111,360 Total 384,000 304,000 304,000 2. What method vields the highest depreciation expense for Year 1