Instructions Depreciation Expense Final Questions Instructions Dexter Industries purchased packaging equipment on January 8 for $72,000. The equipment was expected to have a useful life of three years or 18.000 operating hours, and a residual value of $4.500. The equipment was used for 7.600 hours during Year 1, 6,000 hours in Year 2, and 4,400 hours in Year 3 Required: 1. Determine the amount of depreciation expense for the three years ending December 31, 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 DECLINING BALANCE ONLY, round the multiplier to five decimal places. Then round the answer for each year to the nearest whole dollar) 2. What method yields the highest depreciation expense for Year 1? 3. What method yields the most depreciation over the three-year life of the equipment? Depreciation Expense 1 Determine the amount of depreciation expense for the three years ending December 31, 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 DECLINING BALANCE ONLY, round the multiplier to five decimal places. Then round the answer for each year to the nearest whole dollar) Depreciation Expense Double- 1 Year Straight-Line Method Units-of-Activity Method Declining Balance Method 2 Year 1 3 Year 2 4 Year 3 5 Total Instructions Depreciation Expense Final Questions Final Questions 2. What method yields the highest depreciation expense for Year 1? Straight-line method Units-of-output method O Double-declining-balance method All three depreciation methods 3. What method yields the most depreciation over the three-year life of the equipment? O Straight-line method O Units-of-output method Double-declining-balance method O All three depreciation methods