Razar Sharp Company purchased tool sharpening equipment on July 1, 2008, for $48,600. The equipment was expected to have a useful life of three years, or 7,500 operating hours, and a residual value of $3,000. The equipment was used for 1,800 hours during 2008, 2,600 hours in 2009, 2,000 hours in 2010, and 1,100 hours in 2011. Determine the amount of depreciation expense for the years ended December 31, 2008, 2009, 2010, and 2011, by (a) the straight-line method, (b) the units-of-production method, and (c) the double-declining-balance method. When computing the unit cost for part (b), round to two decimal places. Round all final answers for depreciation expense to the nearest dollar. a. Straight-line method Year Amount 2008 $ 2009 $ 2010 $ 2011 $ b. Units-of-production method Year Amount 2008 $ 2009 $ 2010 $ 2011 $ c. Double-declining-balance Method Year Amount 2008 $ 2009 $ 2010 $ 2011 $ Hide FeedbackShow All Feedback Additional FeedbackPost Submission FeedbackSolution