On January 1, Pacific Specialty Foods purchased equipment for $21,000. Residual value at the end of...

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On January 1, Pacific Specialty Foods purchased equipment for $21,000. Residual value at the end of an estimated four-year service life is expected to be $2,100. The machine operated for 2,200 hours in the first year, and the company expects the machine to operate for a total of 10,000 hours. Calculate depreciation expense for the first year using each of the following depreciation methods: (1) straight-line. (2) double- declining-balance, and (3) activity-based. (Do not round your intermediate calculations.) Depreciation Expense (1) Straight-line (2) Double-declining-balance (3) Activity-based On January 1, Pacific Specialty Foods purchased equipment for $21,000. Residual value at the end of an estimated four-year service life is expected to be $2,100. The machine operated for 2,200 hours in the first year, and the company expects the machine to operate for a total of 10,000 hours. Calculate depreciation expense for the first year using each of the following depreciation methods: (1) straight-line. (2) double- declining-balance, and (3) activity-based. (Do not round your intermediate calculations.) Depreciation Expense (1) Straight-line (2) Double-declining-balance (3) Activity-based