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Scott Company purchased equipment for $350,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 10 years

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Scott Company purchased equipment for $350,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 10 years and a salvage value of $60,000. Estimated production is 25,000 units and 15,000 estimated working hours. Scott uses the equipment for 800 hours and 3,700 hours, and the equipment produces 2,500 units and 7,000 units during 2020 and 2021, respectively. Instructions: 1. Compute Nepreciation expense under each of the following methods for 2020 and 2021 assuming Scott's year end is December 31. A. Straight-line method. B. Activity method (units of output). C. Activity method (working hours). D. Sum-of-the-years'-digits method. E. Double-declining-balance method. 2. Compute the book value of the equipment at December 31, 2021 for each method A. - E.

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