Equipment purchased at the beginning of the fiscal year for $840,000 is expected to have a useful life of 10 years, or 400,000 operating hours, and a residual value of $40,000. Compute the depreciation for the first and second years of use by each of the following methods:

straight-line

units-of-production (10,000 hours first year; 15,000 hours second year)

declining-balance at twice the straight-line rate

* Round answers to the nearest dollar*