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On January 1, 2018, Hobart Mfg. Co. purchased a drill press at a cost of $40,700. The drill press is expected to last 10 years and has a residual value of $5,900. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2018 and 2019, 24,500 and 83,000 units, respectively, were produced.

Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the straight-line method is used. Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the double-declining-balance method is used.

Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the sum-of-the-years'-digits method is used. (Round your intermediate calculations and final answers to the nearest whole dollar amount.)

Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the units-of-production method is used. (Round depreciation per unit to 2 decimal places.)