Dexter Industries purchased packaging equipment on January 8 for $745,600. The equipment was expected to have a useful life of four years, or 7,200 operating hours, and a residual value of $61,600. The equipment was used for 2,520 hours during Year 1, 1,512 hours in Year 2, 2,016 hours in Year 3, and 1,152 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the four 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 four years by each method. Round the answer for each year to the nearest whole dollar. Depreciation Expense Units-of-Activity Double-Declining- Year Straight-Line Method Method Balance Method Year 1 $ 171,000 $ x Year 2 171,000 x Incorrect A 171,000 $ $ Year 3 Year 4 Total A 171,000 684,000