Depreciation Methods Winsey Company purchased equipment on January 2, 2016, for $700,000. The equipment has the following characteristics: Estimated service life 20 years, 100,000 hours, 950,000 units of output Estimated residual value $50,000 During 2016 and 2017, the company used the machine for 4,500 and 5,500 hours, respectively, and produced 40,000 and 60,000 units, respectively Required Compute depreciation expense for 2016 under each of the following methods: Round the depreciation rate per hour to 3 decimal places and depreciation rate per unit to 2 decimal places. If required, round your final answers to the nearest dolla 1. Straight-line method 2. Activity method (Hours worked) 3. Activity method (Units of output) 4. Sum-of-the-years-digits method 5. Double-declining-balance method 6.150%-declining-balance method Compute depreciation expense for 2017 under each of the following methods diation rate per hour to 3 decimal places and depreciation rate per unit to 2 decimal places. If required, round your final answers to the nearest dolla 1. Straight-line method 2. Activity method (Hours worked) 3. Activity method (Units of output) 4. Sum-of-the-years-digits method 5. Double-declining-balance method 6.150%-declining-balance method