Computing Partial Period Depreciation under Multiple Depreciation Methods The following information is provided for equipment purchased on August 1 of the current year. Cost and residual value Estimated service life Acquisition cost $12,500 Years 5 Residual value $500 Service hours 10,000 Productive output (units) 24,000 Required Compute depreciation using each of the following methods. Assume the company has a December 31 year-end. a. Straight-line depreciation: Compute the annual depreciation rate and depreciation amount for Year 1 through Year 6. Carry all decimals in calculations; round final answers to the nearest dollar. Depreciation rate: Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 b. Units-of-production method using service hours as a measure of input: Compute the depreciation rate and depreciation amount for the first partial year assuming 900 service hours of actual operation. Depreciation rate: Year 1 c. Units-of-production method using units produced as a measure of output: Compute the depreciation rate and depreciation amount for the first partial year assuming 1,800 units of output. Depreciation rate: Year 1 d. Sum-of-the-years'-digits method: Compute the depreciation amount for Year 1 through Year 6. Carry all decimals in calculations; round final answers to the nearest dollar. Year 1 Year2 Year