uipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 10 years, or 14,000 operating hours, and a residual value of $10,000. Compute the depreciation for the first and second years of use by each of the following methods: (a) straight-line (b) units-of-production (1,300 hours first year; 2,100 hours second year) (c) declining-balance at twice the straight-line rate