Comparison of Depreciation Methods Niles Construction Company purchased a new crane for exist350,000 at the beginning of year 1. The crane has an estimated residual value of exist40,000 and an estimated useful life of six years. The crane is expected to last 10,000 hours. It was used 1, 800 hours in year 1: 2,000 hours In year 2: 2, 500 hours In year 3: 1, 500 hours in year 4: 1, 200 hours in year 5: and 1,000 hours In year 6. Compute the annual depreciation and carrying value for the crane for each of the six years under each of the following methods: a. Straight-line