On March 31, 2024, Canseco Plumbing Fixtures purchased equipment for $56,000. Residual value at the end of an estimated four-year service life is expected to be $2,000. The company expects the equipment to operate for 15,000 hours. The equipment operated for 3,500 and 4,300 hours in 2024 and 2025, respectively. Required: a. Calculate depreciation expense for 2024 and 2025 using straight-line method. b. Calculate depreciation expense for 2024 and 2025 using double-declining-balance method. c. Calculate depreciation expense for 2024 and 2025 using units-of-production using hours operated. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate depreciation expense for 2024 and 2025 using straight-line method. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Formula Cost minus Residual Estimated Useful Life (years) = Annual Depreciation Amounts $ 54,000 / 4 $ 13,500 Year Annual Depreciation Fraction of Year = Depreciation Expense 2024 $ 13,500 x 9/12 $ 10,125 2025 $ 13,500 x 12/12 $ 13,500 < Required A Required B >