Required information Use the following information for the Quick Studies below. (Algo) [The following information applies to the questions displayed below.] Equipment costing $12,000 with a 10 -year useful life and an estimated $2.000 salvage value is acquired and started operating on January 1 . The equipment is estimated to produce 2.000 units of product during its life. It produced 300 units in the first year. QS 10-7 (Algo) Computing depreciation under different methods LO P1 Compute depreciation for the first year under straight-line, units-of-production, and double-declining-balance. Complete this question by entering your answers in the tabs below. Compute depreciation for the first year under straight-line. Equipment costing $12,000 with a 10 -year useful life and an estimated $2.000 salvage value is acquired and started operating on January 1 . The equipment is estimated to produce 2,000 units of product during its life. It produced 300 units in the first yeat. QS 10-7 (Algo) Computing depreciation under different methods LO P1 Compute depreciation for the first year under straight-line, units-of-production, and double-declining-balance. Complete this question by entering your answers in the tabs below. Compute depreciation for the first year under units-of-production. [The following information applies to the questions displayed below.] Equipment costing $12,000 with a 10 -year useful life and an estimated $2,000 salvage value is acquired and started operating on January 1 . The equipment is estimated to produce 2,000 units of product during its life. It produced 300 units in the first year. QS 10-7 (Algo) Computing depreciation under different methods LO P1 Compute depreciation for the first year under straight-line, units-of-production, and double-declining-balance. Complete this question by entering your answers in the tabs below. Compute depreciation for the first year under double-declining-balance