Depreciation by Three Methods: Partial Years Layton Company purchased tool sharpening equipment on October 1 for $108,000. The equipment was expected to have a useful life of three years, or 12.000 operating hours, and a residual value of $7,200. The equipment was used for 1,350 hours during Year 1, 4,200 hours in Year 2, 3,650 hours in Year 3, and 2.500 hours in Year 4 MIT Required: Determine the amount of depreciation expense for the years ended December 31, Year 1 Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) units-of- activity method, and (c) the double-declining balance method. Note: FOR DECUNING BALANCE ONLY, round the answer for each year to the nearest whole dollar, a. Straight-line method