TB EX Qu. 7-198 (Algo) Mountain view Resorts purchased equipment... Mountain View Resorts purchased equipment at the beginning of 2024 for $48,000. Residual value at the end of an estimated four-year service life is expected to be $6,300. The machine operated for 1,500 hours in the first year and the company expects the machine to operate for a total of 10,000 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.) Depreciation Straight-line Double-declining-balance Activity-based Expense