Depreciation Methods

Sorter Company purchased equipment for $310,000 on January 2, 2019. The equipment has an estimated service life of 8 years and an estimated residual value of $31,000 .

Required:

Compute the depreciation expense for 2019 under each of the following methods:

1. Straight-line: $ fill in the blank 1
2. Sum-of-the-years'-digits: $ fill in the blank 2
3. Double-declining-balance: $ fill in the blank 3