Question 31 45 pts You purchased equipment on January 1, 2020 for a cost of $100,000. The estimated salvage value is $5,000. The estimated useful life is 10 years and 50,000 hours. In 2020, the equipment was used for 4,800 hours. Calculate the depreciation expense for 2020, under the Straight Line Method, Units of Activity Method and the Declining Balance Method. Depreciation for 2020: Straight Line Method Units of Activity Method Declining Balance Method