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Mountain View Resorts purchased equipment at the beginning of 2024 for $40,000. Residual value at...

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Accounting

Mountain View Resorts purchased equipment at the beginning of 2024 for $40,000. Residual value at the end of an estimated four-year service life is expected to be $8,000. The machine operated for 2,200 hours in the first year and the company expects the machine to operate for a total of 10,000 hours over its four-year life.
Required:
Calculate depreciation expense for 2024, using each of the following depreciation methods:
1. Straight-line
2. Double-declining-balance
3. Activity-based

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