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Dexter Industries purchased packaging equipment on January 8 for $476,200. The equipment was expected to have a useful life of three years, or 7,800 operating
Dexter Industries purchased packaging equipment on January 8 for $476,200. The equipment was expected to have a useful life of three years, or 7,800 operating hours, and a residual value of $39,400. The equipment was used for 3,120 hours during Year 1, 2,418 hours in Year 2, and 2,262 hours in Year 3. (not all information given is needed for this question) Determine the amount of depreciation expense for the three years ending December 31, Year 1, Year 2, Year 3, by the straight-line method. Also determine the total depreciation expense for the three years. Note: Round the answer for each year to the nearest whole dollar
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