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 $828,000, having a useful life of 10 years or 13,250 hours, with a residual value of $192,000. The company?s year-end is December 31.

Required

Calculate depreciation expense for the fiscal years 2020, 2021, and 2022 by completing a schedule with the following headings (round calculations to the nearest whole dollar):

Analysis Component: If you could ignore the matching principle, how could you record the purchase of the boat? What impact would this have on the financial statements in the short and long term?

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Depreciation Method Double-Declining-Balance Straight-Line Year Units-of-Production? 'Depreciation Is calculated to the nearest month. Assume actual hours of service were 2020, 720; 2021, 1,780; 2022, 1,535.