On January 1, 2016, Nicholas Company purchased Office Equipment for $90,000 with an estimated useful life...

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On January 1, 2016, Nicholas Company purchased Office Equipment for $90,000 with an estimated useful life of 4 years, or 200,000 hours and a residual value of $10,000. Compute the annual depreciation at the end of 2018, the 3rd year, under each of the following depreciation method for Nicholas Company: 1) Straight-Line Method 2) Units of Production Method, assume that a total of 70,000 hours were used in 2018. 3) Double-Declining Balance Method Using the Straight-Line Depreciation Method, calculate the amount of depreciation taken in 2018. (Round answers to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Annual Depreciation = = Depreciation in 2018 ($ == tA A $ per year On January 1, 2016, Nicholas Company purchased Office Equipment for $90,000 with an estimated useful life of 4 years, or 200,000 hours and a residual value of $10,000. Compute the annual depreciation at the end of 2018, the 3rd year, under each of the following depreciation method for Nicholas Company: 1) Straight-Line Method 2) Units of Production Method, assume that a total of 70,000 hours were used in 2018. 3) Double-Declining Balance Method Using the Straight-Line Depreciation Method, calculate the amount of depreciation taken in 2018. (Round answers to 2 decimal places. Do not use dollar signs ($) when entering amounts. To see comma-formatted numbers reflected in your final answers, you must enter your answers with commas.) Annual Depreciation = = Depreciation in 2018 ($ == tA A $ per year