Obj. 2 PR 9-3B Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $108,000. The eg ment was expected to have a useful life of three 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. Instructions 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. EXCEL TEMPLATE