Tonys Pizzas purchased an Oven on January 1, 2020, for $69,000. The oven is estimated to have an 8-year life with a $5,000 salvage value. The estimated useful life in operating hours is 120,000 hours. Answer the following questions based on the given information: What is the annual depreciation expense using the straight-line method in this case?

* $8,625 $6,400 $5,000 $8,000

What is the depreciation cost per unit of activity for the oven using the units of activity method in this case? *

$0.25 $0.53 $0.73 $0.58

What is the annual depreciation rate using the declining balance method in this case? *

12.5% 16.67% 25% 33.33%

What is the annual depreciation rate using the straight-line method in this case? *

12.5% 16.67% 25% 33.33%

What is the accumulated depreciation of the oven at the end of Year 2 using the declining balance method in this case? *

$38,812 $17,250 $47,168 $30,188

What is the annual depreciation expense at the end of Year 3 using the declining balance method in this case? *

$8,000 $9,703 $7,277 $8,625