USE THE FOLLOWING INFORMATION TO Determine Depreciation using the 3 Methods below: Machinery purchased for $320,000 is expected to have a useful life of 5 years, or 100,000 operating hours, and a residual value of $20,000. The equipment was placed in service on July 1 of the current fiscal year, which ends on December 31. The equipment was operated 15,000 hours the first fiscal year, and 33,000 hours the second fiscal yea7 Compute the depreciation expense by the methods requested in each of the following three questions. 8B SL Depr year 1 year 2 year 3 year 4 year 5 year 6 Cost sal val Deprec. Val ####### $ 20,000 $300,000 ####### $20,000 $ 300,000 $20,000 $ 300,000 #### $20,000 $ 300,000 ####### $20,000 $ 300,000 ##### $20,000 $ 300,001 Rate mostyr 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% depr exp 1/2 $ 60,000 1 $ 120,000 1 $ 120,000 1 $ 120,000 1 $ 120.000 $ 9 C Units of Prod. Depr Cost sal val. $20,000 ##### $20,000 $20,000 ####### $20,000 $20,000 ###### $20,000 year 1 year 2 year 3 year 4 years years deprcbl val $ 300,000 $ 300,000 $ 300,000 $ 300,000 $ 300,000 $ 300,000 Rate hrs used depr exp 3.00 15,000 $ 45,000 3.00 33,000 $ 99,000 3.00 20,000 $ 60,000 3.00 20,000 $ 60,000 3.00 20,000 $ 60,000 3.00 $ 108,000 $ 324,000 1