Super Saver Groceries purchased store equipment for $35,500. 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 10,000 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. (Do not round your intermediate calculations.)
1. Straight-line. Depreciation expense
2. Double-declining-balance. Depreciation expense
3. Activity-based. epreciation expense