XYZ Corporation purchased equipment in early January for $72,000. The equipment was expected to have a useful life of three (3) years, or 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7,600 hours in Year 1, 6,000 hours in Year 2, and 4,400 hours in Year 3. Determine the amount of depreciation expense for the three years ending December 31 by the straight-line, double-declining, and units-of-production methods. Also determine the total depreciate expense for the three years by each method. What method yields the highest depreciate expense in Year 1? What method yields the most depreciation over the three-year life of the equipment? Complete the calculations and answer the questions in the worksheet provided

XYZ Corporation Depreciation Expense What method yields the highest depreciate expense in Year 1? What method yields the most depreciation over the three-year life of the equipment? workspace for calculations (if not shown in cells to the left)