TB EX Qu. 7-196 (Algo) Taco Hut purchased equipment on May... Taco Hut purchased equipment on May 1, 2024, for $18,000 Residual value at the end of an estimated eight-year service life is expected to be $2,000. Required: Calculate depreciation expense using the straight-line method for 2024 and 2025, assuming a December 31 year-end. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) Year Depreciation Expense 2024 2025 TB EX Qu. 7-198 (Algo) Mountain view Resorts purchased equipment... Mountain View Resorts purchased equipment at the beginning of 2024 for $30,000. Residual value at the end of an estimated four- year service life is expected to be $7.400. The machine operated for 2,400 hours in the first year and the company expects the machine to operate for a total of 9,000 hours over its four-year life. Required: Calculate depreciation expense for 2024, using each of the following depreciation methods: 1. Straight-line 2. Double-declining-balance 3. Activity-based (For all requirements, round your intermediate calculations to 2 decimal places.) Straight-line Double-declining-balance Activity-based Depreciation Expense