On January 1, Midwest Specialty Foods purchased equipment for \$11,000. Residual value at the end of an estimated four-ye pife is expected to be $1,100. The machine operated for 1,600 hours in the first year, and the company expects the machine for a total of 10,000 hours. Calculate depreciation expense for the first year using each of the following depreciation methods: (1) straight-line. (2) dout declining-balance, and (3) activity-based, (Do not round your intermediate calculations.) On January 1, Midwest Specialty Foods purchased equipment for \$11,000. Residual value at the end of an estimated four-ye pife is expected to be $1,100. The machine operated for 1,600 hours in the first year, and the company expects the machine for a total of 10,000 hours. Calculate depreciation expense for the first year using each of the following depreciation methods: (1) straight-line. (2) dout declining-balance, and (3) activity-based, (Do not round your intermediate calculations.)