West Coast Tours runs boat tours along the West Coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising bo for $870,000, having a useful life of 10 years or 18,250 hours, with a residual value of $213,000. The company's year-end is Decembe 31. Required: Calculate depreciation expense for the fiscal years 2020, 2021, and 2022 by completing a schedule. (Note: Depreciation is calculated using half year convention. Assume actual hours of service were: 2020, 790; 2021, 1,850; 2022, 1,605.) Depreciation Method Double-Declining Year Straight-Line Balance Units-of- Production 2020 32.850 $ 348,000 $ 40 2021 65.700 145 $ 93 2022 65.700 116 S 20