Mountainview Resorts purchased equipment for $46,000. Residual value at the end of an estimated four-year service life is expected to be $6,700. The machine operated for 2,600 hours in the first year and the company expects the machine to operate for a total of 12,000 hours over its four year life. Calculate depreciation expense for the first year using each of the following depreciation methods: (1) straight-line, (2) double-declining- balance, and (3) activity-based. (Round your intermediate calculations to 2 decimal places.) Depreciation Expense Straight-line Double-declining-balance Activity-based 1