West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for $852,000, having a useful life of 10 years or 12,960 hours, with a residual value of $204,000. The company's year-end is December 31. Required: Calculate depreciation expense for the fiscal years 2020, 2021, and 2022 by completing a schedule. (Note: Depreciation is calculated to the nearest month. Assume actual hours of service were: 2020, 760; 2021, 1,820; 2022, 1,575.) Depreciation Method Double-Declining Year Straight-Line Balance Units-of- Production 2020 $ 54,000 2021 2022