Please answer all parts completely and correctly with explanation computation formula steps answer in text no copy paste show explanation and computation clearly for numbers Layton Company purchased tool sharpening equipment on October 1 for $39,960. The equipment was expected to have a useful life of 3 years or 6,480operating hours, and a residual value of $1,080. The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3,and 1,080 hours in Year 4.Required:Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and year 4, by (a) the straight line method,(b) the units of activity method, and (c) the double-declining-balance method.Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearestwhole dollar.a. Straight-line methodYearYear 1Year 2Year 3Year 4YearYear 1Year 2$Show Transcribed TextYear 3Year 4$b. Units-of-activity method iSYearYear 1Year 2Year 3Year 4Amountc. Double-declining-balance method.AmountAmountS$G4

Name: Please answer all parts completely and correctly with explanation comp
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: Please answer all parts completely and correctly with explanation computation formula steps answer in text no copy paste show explanation and computation clearly for numbers Layton Company purchased tool sharpening equipment on October 1 for $39,960.