To demonstrate the computations involved in several methods of depreciating a fixed asset, the following data are used for equipment purchased on January 1 of the current year. Cost and residual value Estimated service life: Acquisition cost Residual value $20,000 Years $800 Service hours 16,000 Productive output (units) 38,400 Required Compute annual depreciation using each of the following methods. a. Straight-line depreciation: Compute the depreciation rate and amount for each year. Note: Enter the rate in decimal form (such as 0.10) and not as a percentage. Depreciation Rate Year 1 Year 2 Year 3 Year 4 Year 5 Depreciation Expense $ $ b. Units-of-production method using service hours as a measure of input: Compute the depreciation rate and amount of depreciation expense for the first year assuming 3,520 service hours of actual operation. Depreciation rate per service hour $ Depreciation Expense $ Year 1 c. Units-of-production method using units produced as a measure of output: Compute the depreciation rate and amount of depreciation expense for the first year assuming 6,400 units of output. Depreciation rate per unit $ Year 1 Depreciation Expense $ d. Sum-of-the-years'-digits method: Compute the depreciation amount for each year. Year 1 Year 2 Year 3 Year 4 Year 5 e. Double-declining-balance method: Compute the depreciation amount for each year. Year 4 Year 1 Year 2 Year 3 Year 5