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Flag question Redfern Company purchased equipment for $304,000 on January 1, 2018. It is estimated that the equipment will have a useful life of 8 years and a residual value of $16,000. Estimated production is 50,000 units, and estimated service life are 20,000 hours. Redfern Company used the equipment for 525 hours during 2018, and 600 hours during 2019. Instructions: Compute depreciation expense for 2018 & 2019 under each of the following methods, Redfern is on a calendar-year basis ending December 31. (CLO # 5 (a) Straight-line method. (b) Activity method (working hours). (c) Sum of-the-years' digits method. (d) Double-declining-balance method Excel