Required information [The following information applies to the questions displayed below] On January 1, Pandemic Groceries purchased store equipment for $22,000. Pandemic estimates that at the end of its 10 year service life, the equipment will be worth $4,000. During the 10-year period, the company expects to use the equipment for a total of 15,000 hours. Pandemic used the equipment for 1,600 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.) 1. Straight-line. 2. Double-declining-balance. 3. Activity-based