Comparing Thrte Deprecistion Metheds Dexter thdustries purchased packaging equipment on Jsouary 8 for $706,400. The equipment was expected to have a useful ife of theee years, or 7,200 operating hours, and a resoduar valut of 558,400 . The equipment was used for 2,880 hours during Year 1, 2,232 hours in Vear 2, and 2,088 hours in Year 3. Requiredt 1. Determine the amourh of depreciation expense for the three vears ending December 31, vear 1, Year 2, Vear 3, by (a) the stragk-ilnt methes, (b) the unts of-activty method, and (c) the doubledecining-balanch method. Aso determine the totai deprecibioh experse for the three years by each method. Note: For all methods, round the answer for each year to the nearest whole dolla: 2. What method yeldi the highest depreciation expense for year i? 3. What method yields the most depreciaton over the theed-year life of the equphent