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Please help me with this question and if you can show works. thanks!! 10,000 Computing Depreciation Using Various Depreciation Methods To demonstrate the computations involved

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Please help me with this question and if you can show works. thanks!!

10,000 Computing Depreciation Using Various Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following data are used for equipment purchased on January 1, 2020. Cost and residual value Estimated service life: Acquisition cost $12,500 Years 5 Residual value $500 Service hours Productive output (units) 24,000 Required Compute annual depreciation using each of the following methods. a. Straight-line depreciation: Compute the depreciation rate and amount for each year. Depreciation Rate 0.2 2020 2021 2022 2023 2024 Depreciation Expense $ 0 x $ 0 x $ 0 x $ 0 x $ OX b. Units-of-production method using service hours as a measure of input: Compute the depreciation rate and amount of depreciation expense for the first year assuming 2,200 service hours of actual operation. Depreciation Rate 1.2 2020 2,640 Depreciation Expense c. Units-of-production method using units produced as a measure of output: Compute the depreciation rate and amount of depreciation expense for the first year assuming 4,000 units of output. Depreciation Rate 0.5 2020 2,000 Depreciation Expense $ d. Sum-of-the-years'-digits method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 $ 0 x $ Ox $ 0 x $ 0 x $ 800 e. Double-declining-balance method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 $ 5,000 $ 3,000 $ 18,000 x $ 1,080$ 648 x Check

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