Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $695,800. The equipment was expected to have a useful life of four years, or 7,600 operating hours, and a residual value of $57,400. The equipment was used for 2,660 hours during Year 1, 1,596 hours in Year 2.2.125 hours in Your J, and 1,216 hours in Year 4 Required: 1. Determine the amount of depreciation expense for the four years ending December 31 by (a) the straight-line method, (b) the units of activity method, and (c) the double-declining balance method. Also determine the total depreciation expense for the four years by each method Round the answer for each year to the nearest whole dollar. Depreciation Expense Units-of-Activity Straight-Line Method Method Year Double-Declining- Balance Method Year: Year 2 Year 3 Year 4 Total 2. What method yields the highest depreciation expense for Year 12 Double-declining balance method 3. What method yields the most depreciation over the four year life of the equipment? All three depreciation methods