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Chapter 8 Handout Dr. Griffin purchased a dentist's drill at a cost of $40,000. The...

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Chapter 8 Handout Dr. Griffin purchased a dentist's drill at a cost of $40,000. The drill has an estimated life of four years and an estimated salvage value of $4000. The drill, which is expected to last 3600 hours, was operated 1200 hours in year 1; 800 hours in year 2; 1000 hours in year 3; and 600 hours in year 4. Make a table (one for each method) showing the annual depreciation expense and book value for the drill for each of the first four years of operation using (1) the straight-line method; (2) the units-of-production method; and (3) the double-declining balance method. You should have three tables when you are finished

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