On April 22, 2020, Cullumber Enterprises purchased equipment for $132,000. The company expects to use the equipment for 12,000 working hours during its 4-year life and that it will have a residual value of $12,000. Cullumber has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,300 hours in 2020; 2,900 hours in 2021; 3,800 hours in 2022; 2,800 hours in 2023; and 1,400 hours in 2024.

Calculate depreciation expense for the life of the asset under straight-line method. (Round answers to 0 decimal places, e.g. 5,276.)

Depreciation Expense

2020

$

2021

$

2022

$

2023

$

2024

Calculate depreciation expense for the life of the asset under double diminishing-balance method.

Depreciation Expense

2020

$

2021

$

2022

$

2023

Calculate a depreciation expense for the life of the asset under units-of-production method.

Depreciation Expense
2020		$
2021		$
2022		$
2023		$
2024 Which method results in the lowest profit over the life of the asset? Which method results in the least cash used for depreciation over the life of the asset?