Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1 of the current year. a. Straight-line depreciation: Compute the annual depreciation rate and amount for each year. Carry all decimals in calculations; round final answers to the nearest dollar. b. Units-of-production method using service hours as a measure of input: Compute the depreciation rate and amount for the first partial year assuming 1,440 service hours of actual operation. c. Units-of-production method using units produced as a measure of output: Compute the depreciation rate and amount for the first partial year assuming 2,880 units of output. Depreciation rate: d. Sum-of-the-years'-digits method: Compute the depreciation amount for each year. Carry all decimals in calculations; round final answers to the nearest dollar. e. Double-declining-balance method: Compute the depreciation amount for each year. Carry all decimals in calculations; round final answers to the nearest dollar