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Modern Products Company purchased new packaging equipment for $246,000 on January 1, 2019. The equipment is expected to be used for 5 years, or 50,000

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Modern Products Company purchased new packaging equipment for $246,000 on January 1, 2019. The equipment is expected to be used for 5 years, or 50,000 operating hours. It has an estimated salvage value of $3,000. The equipment was used for 10,000 hours in 2019, 15,000 hours in 2020, and 12,500 hours in 2021 Compute annual depreciation expense for the first three years, using the straight-line method, the double-declining balance method, and the units of output method. (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount.) Straight-Line Method Double- Declining Balance Method Units of Output Method 2019 2020 2021

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