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Dexter Industries purchased packaging equipment on January 8 for $105,200. The equipment was expected to have a useful life of three years, or 20,000 operating
Dexter Industries purchased packaging equipment on January 8 for $105,200. The equipment was expected to have a useful life of three years, or 20,000 operating hours, and a residual value of $7,200. The equipment was used for 8,520 hours during Year 1, 6,940 hours in Year 2, and 4,540 hours in Year 3 Required: Also determine the total depreciation expense for the three years by each method. (Note: For STRAIGHT-LINE ONLY, round the first two years to the nearest whole dollar, then round the third year as necessary For DECLINNG BALANCE ONLY, round the multiplier to five decimal places. Then round the answer for each year to the
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