Max Company purchased tool-sharpening equipment on January 2, 2013, for $48,600. The equipment     was expected to have a useful life of four years, or 12,000 operating hours, and a residual value of $3000. The equipment was used for 2,800 hours during 2013, 2950 hours in 2014, 3,055 hours in 2015 and 3195 hours 2016

Instructions:

Determine the amount of depreciation expense for the years ended December 31, 2013, 2014, 2015, and 2016, by

• the straight-line method,
• the units of production method, and
• the double declining balance method.