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Comparing Three Deprecation Methods Dexter Industries purchased packaging equipment on January 8 for $638,600. The equipment was expected to have a useful life of three years, or 6,300 operating hours, and a residual value of $52,700. The equipment was used for 2,520 hours during Year 1,1,953 hours in Year 2 , and 1,827 hours in Year 3 . Required: 1. Determine the amount of depreciation expense for the three years ending December 31 , Year 1, Year 2, Year 3 , by (a) the straight-line method, (b) the units-ofactivity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the three years by each method. Note: For all methods, round the answer for each year to the nearest whole dollar. 2. What methoa yieids the nighest deprecaton expense for Year 1? 3. What methed yields the most depreciation over the three-year life of the equipment? 2. What method yields the highest depreciation expense for Year 1 ? reciation over the three-year life of 3. What method yields the most depreciation over the three-year life of the equipment