Equipment costing $13,000 with a 10-year useful life and an estimated $3,000 salvage value is acquired and started operating on January 1. The equipment is estimated to produce 2,000 units of product during its life. It produced 160 units in the first year. Compute depreciation for year: Cost Estimated useful life Salvage value Estimated total units of production Units produced in first year 1 $13,000 10 years $3,000 2,000 units 160 units Required: 1. Compute depreciation for the first year under straight-line. 2. Compute depreciation for the first year under units-of-production. 3. Compute depreciation for the first year under double-declining-balance. + = A Graded Worksheet