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Please give the correct answer Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $261,600. The equipment was expected to have
Please give the correct answer
Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $261,600. The equipment was expected to have a useful life of four years, or 8,000 operating hours, and a residual value of $21,600. The equipment was used for 2,800 hours during Year 1, 1,680 hours in Year 2, 2,240 hours in Year 3, and 1,280 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the four years ending December 31 by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining- balance method. Also determine the total depreciation expense for the four years by each method. Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Double-Declining- Balance Method Year 1 $ Year 2 $ Year 3 Year 4 TotalStep by Step Solution
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