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I'm having trouble finishing this question. Some of my answers are off because I according to the grading system I have a 76% on this
I'm having trouble finishing this question. Some of my answers are off because I according to the grading system I have a 76% on this assignment. Can someone help me out figuring out what steps I might have missed?
Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $317,800. The equipment was expected to have a useful life of three years, or 5,400 operating hours, and a residual value of $26,200. The equipment was used for 2,160 hours during Year 1, 1,674 hours in Year 2, and 1,566 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ending December 31, Year 1, Year 2, Year 3, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the three years by each method. Note: For all methods, round the answer for each year to the nearest whole dollar. Depreciation Expense Year Double-Declining-Balance Method Straight-Line Method 97,200 Units-of-Activity Method 116,640 Year 1 197,036 19 Year 2 97,200 90,396 74,874 | . Year 3 97,200 84,564 19,690 Total $ 291,600 $ 291,600 $ 291,600 2. What method yields the highest depreciation expense for Year 1? Double-declining-balance method 3. What method yields the most depreciation over the three-year life of the equipment? All three depreciation methodsStep by Step Solution
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