Question: eBook Question Content Area Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $ 1 0 8 ,

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Depreciation by three methods; partial years
Layton Company purchased tool sharpening equipment on October 1 for $108,000. The equipment was expected to have a useful life of 3 years or 12,000 operating hours, and a residual value of $7,200. The equipment was used for 1,350 hours during Year 1,4,200 hours in Year 2,3,650 hours in Year 3, and 2,800 hours in Year 4.
Required:
Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method.
Note: FOR DECLINING BALANCE ONLY, round the multiplier to five decimal places. Then, round the answer for each year to the nearest whole dollar.

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