Required information Exercise 7-10 (Static) Determine depreciation for the first year under three methods (L07-4) (The following information applies to the questions displayed below.] On January 1, Super Saver Groceries purchased store equipment for $29,500. Super Saver estimates that at the end of its 10-year service life, the equipment will be worth $3,500. During the 10-year period, the company expects to use the equipment for a total of 13,000 hours. Super Saver used the equipment for 1,700 hours the first year. Required: Calculate depreciation expense of the equipment for the first year, using each of the following methods. Exercise 7-10 (Static) Part 1 1. Straight-line. Depreciation expense Exercise 7-10 (Static) Part 2 2. Double-declining-balance Depreciation expense Exercise 7-10 (Static) Part 3 3. Activity-based. Depreciation expense