On January 1, 2016, Hobart Mfg. Co. purchased a drill press at a cost of $27,200. The drill press is expected to last 10 years and has a residual value of $5,200. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2016 and 2017, 21,000 and 76,000 units, respectively, were produced.

Required 1:

Compute depreciation for 2016 and 2017 and the book value of the drill press at December 31, 2016 and 2017, assuming the straight-line method is used.

Required 2:

Compute depreciation for 2016 and 2017 and the book value of the drill press at December 31, 2016 and 2017, assuming the double-declining-balance method is used.

Required 3:

Compute depreciation for 2016 and 2017 and the book value of the drill press at December 31, 2016 and 2017, assuming the sum-of-the-years'-digits method is used. (Round your intermediate calculations to the nearest whole dollar amount.)

Required 4:

Compute depreciation for 2016 and 2017 and the book value of the drill press at December 31, 2016 and 2017, assuming the units-of-production method is used. (Round depreciation per unit to 2 decimal places.)