Hawaiian Specialty Foods purchased equipment for $30,000. Residual value at the end of an estimated four-year service life is expected to be $3,000. The machine operated for 3,100 hours in the first year, and the company expects the machine to operate for a total of 20,000 hours. Calculate depreciation expense for the first year using each of the following depreciation methods: (1) straight-line, (2) double- declining-balance, and (3) activity-based. (Do not round your intermediate calculations.) Masterson Supply purchased a small storage building for $20,000 to be used over a five-year period. The building has no residual value. Early in the fourth year, the storage building burned down Record the retirement of the remaining book value of the storage building. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)