On January 1, 2024, Canseco Plumbing Fixtures purchased equipment for $34,000. Residual value at the end of an estimated four-year service life is expected to be $8,000. The company expects the equipment to operate for 10,000 hours. The equipment operated for 2,400 and 3,200 hours in 2024 and 2025, respectively.

Required:

1. Calculate depreciation expense for 2024 and 2025 using straight-line method.
2. Calculate depreciation expense for 2024 and 2025 using double-declining-balance method.
3. Calculate depreciation expense for 2024 and 2025 using units-of-production using hours operated.

Calculate depreciation expense for 2024 and 2025 using straight-line method. Calculate depreciation expense for 2024 and 2025 using double-declining-balance method. Calculate depreciation expense for 2024 and 2025 using units-of-production using hours operated. Note: Round "Depreciation per hour" answers to 2 decimal places