Q1 On January 1, 2020, Locke Company, a small machine-tool manufacturer, acquired for $3,750,000 a piece of new industrial equipment. The new equipment had a useful life of 15 years, and the salvage value was estimated to be $750,000 . Locke estimates that the new equipment can produce Use the following depreciation methods to calculate the depreciation expense for 2020, 2021, and 2022 (1) Straight-line, (2) Double-declining balance, (3) Sum-of-years'-digits.