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. Cost and residual value Estimated service life Acquisition cost $20,000 Years 5 Residual value $800 Service hours 16,000 Productive output (units) 38,400 Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1, 2020. a. Straight-line depreciation: Compute the annual depreciation rate and amount for each year. Depreciation rate: 20 2020 2024 2021 5867 $ 2022 4587 $ 2023 3307 2025 747 $ 2667 $ 2027 $ 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. Depreciation rate: 2020 20 $ 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: 20 2020 $ d. Sum-of-the-years-digits method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 2025 $ $ $ $ $ $ e. Double-declining-balance method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 2025 $ $ $ $ $ $