Refer to the situation described in BE 11–2. Calculate depreciation expense for 2024 and 2025 using sum-of-theyears’- digits, assuming the equipment was purchased on (1) January 1, 2024, and  (2) March 31, 2024.

Data from in BE 11-2

On January 1, 2024, Canseco Plumbing Fixtures purchased equipment for $30,000. Residual value at the end of  an estimated four-year service life is expected to be $2,000. The company expects the equipment to operate for  10,000 hours. Calculate depreciation expense for 2024 and 2025 using each of the following depreciation methods:
(1) Straight line

(2) Double-declining balance

(3) Units-of-production using hours operated. The equipment operated for 2,200 and 3,000 hours in 2024 and 2025, respectively.