Required Information [The following information applies to the questions displayed below.] On January 1, Pandemic Groceries purchased store equipment for $26,500. Pandemic estimates that at the end of its 10- year service life, the equipment will be worth $2,500. During the 10-year period, the company expects to use the equipment for a total of 10,000 hours. Pandemic used the equipment for 1,650 hours the first year. Required: Calculate depreciation expense of the equipment for the first year, using each of the following methods. (Do not round your intermediate calculations.) 2. Double-declining-balance. Depreciation expense