Instructions Depreciation Expense Final Questions Instructions Dexter Industries purchased packaging equipment on January 8 for $105,200. The equipment was expected to have a useful Ite of three years, or 20,000 operating hours, and a residual value of $7,200. The equipment was used for 8,520 hours during Year 1, 6,940 hours in Year 2, and 4,540 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ended December 31 by (a) the straight the method. (b) the units of activity method, and (c) the double-defining balance method. Also determine the total depreciation expense for the three years by each method. (Note: For STRAIGHT-LINE ONLY, round the first two years to the nearest whole dollar, then round the third year as necessary For DECLINING BALANCE ONLY, round the multiplier to live decimal places. Then round the answer for each year to the nearest whole dollar) 2. What method yields the highest depreciation expense for Year 17 3. What method yields the most depreciation over the three-year we of the equipment? Depreciation Expense Depreciation Expense Straight Line Method Year Double- Declining Units-of-Activity Method Balance Method 2 Year 1 Year 2 Year 3 5 Total Final Questions 2. What method yields the highest depreciation expense for Year 1? Straight-line method Units-of-output method Double-declining-balance method O All three depreciation methods 3. What method yields the most depreciation over the three-year life of the equipment? O Straight-line method Units-of-output method