Instructor: Dawn D. Young Term: Fall 2023 STUDENT LAST NAME: Ferencz Year Kaitlyn Rehearsal Corporation purchased equipment on Jan 1, 2021, for $250,000. The equipment was expected to have a useful life of three years, or 12,000 operating hours, and a residual value of $10,000. The equipment was used for 3,500 hours during 2021, 3,500 hours during 2022, and 5,000 hours in 2023. 2021 2022 gro, 80 malam ACC1810-PRINCIPLES OF FINANCIAL ACCOUNTING 2023 Instru tion Determine the amount of depreciation expense for the years ended December 31, 2021, 2022, and 2023, by (a) the straight-line method, (b) the units-of-production method, and (c) the double-declining-balance method. Round DDB Rate to two decimal places. Round final answers to the nearest dollar. Total Staight-Line $80,000 $80,000 $80,000 SHOW YOUR WORK: Project 08: Long-Term Assets Part A: Plant Assets $240,000 STUDENT FIRST NAME: See attatched page Depreciation Expense Units-of-Production 1000 $70,000 200 52 Kaitlyn Ferencz Complete this packet NEATLY in