Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Cost and residual value Acquisition cost Residual value Estimated service life $37,500 Years 5 $1,500 Service hours 30,000 Required Productive output (units) 72.000 Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1 of the current year. a. Straight-line depreciation: Compute the annual depreciation rate and amount for each year. Carry all decimals in calculations; round final answers to the nearest dollar.