Dexter Industries purchased packaging equipment on danuary 8 for $87,200. The equipment was expected to have a useful lie of three years, or 20,000 operating hours, and a tesidual value of $7,200. The equipment was used for 8,590 hours during Year 1,7,370 hours in Year 2, and 4,040 hours in Year 3 . Required: 1. Determine the amount of depreciation exponse for the three years ended December 31 by (a) the straiaht-line. mothod, (b) the and (c) the double-declining balance method. Aso determine the totat depreciation expense tor the three years by each method. (Note: For STAAIGHT. LINE ONLY, round the first two years to the nearest whole dollar, then round the third year as nocessary For DECLINING BALANCE ONLY, round the multplior to fve decimal places. Then round the answer for each year to the nearest whole dollar) 2. What method yields the highest depreciation expense for Yoar 1 ? 3. What method yields the most depreciation over the throe-year ite of the equigment