Equipment purchased at the beginning of the year for $220,000 is expected to have a useful life of 40,000 hours or 4 years, and a residual value of $20,000. REQUIRED: (1) Compute the depreciation for the first and second years by each of the following methods: (a) double-declining balance (b) straight-line depreciation (c) units-of-output (4800 hours first year; 10,000 hours second year)