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Rehearsal Company purchased equipment on Jan 1, 2020, for $250,000. The equipment was expected to have a useful life of three years, or 12,000 operating
Rehearsal Company purchased equipment on Jan 1, 2020, for $250,000. The equipment was expected to have a useful life of three years, or 12,000 operating hours, and a residual value of $10,000. The equipment was used for 3,500 hours during 2020, 3,500 hours during 2021, and 5,000 hours in 2022. Instructions: Determine the amount of depreciation expense for the years ended December 31, 2020, 2021, and 2022, by (a) the straight-line method, (b) the units-of-production method, and (c) the double-declining-balance method. Round DDB Rate to two decimal places. Round final answers the nearest dollar. Depreciation Expense Units-of-Production Year Staight-Line Double-Declining-Balance 2020 2021 2022 Total
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