Question 2 Not complete Marked out of 20.00 P Flag question 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 $22.500 Years 5 Residual value 5900 Service hours 18.000 Productive output (units) 43,200 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 2020 2021 2022 2023 2024 Depreciation Expenses 5 $ 5 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 3,960 service hours of actual operation Depreciation Rate 2020 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 7.200 units of output. Depreciation Rate 2020 Depreciation Expense 5 d. Sum-of-the-years-digits method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 $ 5 5 5 $ e Double-declining-balance method: Compute the depreciation amount for each year. 2020 2021 2022 2023 2024 5 5 5 Check