Hubbard Woods Inc. purchased new equipment for $5,000. The equipment has an estimated useful life of 8,000 hours and was used for 2,400 hours in year 1, for 2,000 hours in year 2, for 2,200 hours in year 3, and for 1,400 hours in year 4. Prepare a depreciation schedule for the new equipment using the following column headings: Year, Computation, Depreciation Expense, Accumulated Depreciation, and Book Value. Round to the nearest dollar