Question 10 of 12 - / 25 ili View Policies Current Attempt in Progress On January 1, 2016, Nicholas Company purchased Office Equipment for $171,000 with an estimated useful life of 5 years, or 387,500 hours and a residual value of $16,000. Compute the annual depreciation at the end of 2018, the 3rd year, under each of the following depreciation method for Nicholas Company: 1) Straight-Line Method 2) Units of Production Method, assume that a total of 70,000 hours were used in 2018. 3) Double-Declining Balance Method Using the Straight-Line Depreciation Method, calculate the amount of depreciation taken in 2018. (Round answers to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Annual Depreciation = ($ = $ per year Depreciation in 2018 Using the Units of Production Depreciation Method, calculate the Depreciation Cost per Hour and the amount of depreciation taken in 2018. (Round answers to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Depreciation Cost per Hour = ($ = $ $ /hour Depreciation in 2018 Using the Double-Declining Balance Depreciation Method, calculate the Double-Declining Balance (DDB) Rate then complete the table below for the years 2016 through 2018. (Round answers to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Double-Declining Balance (DDB) Rate = % Years Annual Depreciation Accumulated Depreciation Book Value 2016 $ $ $ 2017 $ $ $ 2018 $ $ $ Depreciation for 2018 $ Before moving onto the next section, please do the following (for screen help, click on the hyperlinks below): 1. Scroll to the end of the page and click on the "Save for Later" button to save your work