Required Information [The following information applies to the questions displayed below.] On January 1, Pandemic Grocerles purchased store equipment for $37,000. Pandemic estimates that at the end of Its 10 year service life, the equipment will be worth $4,000. Durlng the 10 -year perlod, the company expects to use the equipment for a total of 11,000 hours. Pandemic used the equipment for 1,800 hours the first year. Required: Calculate depreclation expense of the equipment for the first year, using each of the following methods. (Do not round your Intermedlate calculations.) 2. Double-declining-balance