Equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of $10,000. Compute the depreciation for the first and second years of use by each of the following methods. a. Straight-line: First year 70,000 Second year 70,000 b. Units-of-output (1,200 hours first year; 2,250 hours second year): First year 30,000 Second year 56,250 c. Double-declining-balance: First year $ Second year $