Dexter Industries purchased packaging equipment on January 8 for $115,200. The equipment was expected to have a useful life of 3 years, or 23,200 operating hours, and a residual value of $10,800. The equipment was used for 6,960 hours during Year 1, 8,400 hours in Year 2, and 7,840 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the 3 years ending December 31, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the 3 years by each method. Do not round intermediate calculations when determining the depreciation rate. Round the final answers for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Units-of-Activity Double-Declining- Method Method Balance Method Year 1 Year 2 Year 3 Total $ $ 2. What method yields the highest depreciation expense for Year 1? 3. What method yields the most depreciation over the 3-year life of the equipment?