Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 3 for $708,600. The equipment was expected to have a useful life of four years or 10,000 operating hours, and a residual value of $58,600. The equipment was used for 3,500 hours during Year 1, 2,100 hours in Year 2, 2,000 hours in Year 3, and 1,600 hours in Year 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 Double-Declining Straight-Line Method Method Balance Method Year Year Year 2 Year 3 Year 4 Total 2. What method ylelds the highest depreciation expense for Year 1> 3. What method yields the most depreciation over the four year ide of the equipment