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

The results are below.

Explanation:

Giving the following information:

Purchasing price= $35,500

Useful life= 10 years

Salvage value= $3,500

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

1) Straight-line method:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (35,500 - 3,500)/10

Annual depreciation= $3,200

2) Double-declining balance:

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*3,200

Annual depreciation= $6,400

3) Activity-based:

Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated

Annual depreciation= (32,000/10,000)*1,700

Annual depreciation= $5,440

(i know i'm late but the answer's "things about yourself" because you want to list things you're capable of, why you want to open up the business, the amount of money you're putting into it,etc.) i'm guessing you take online school small business, the answers to the quizzes are all over quizlet. just look up your question and type quizlet after it and it'll pop up.

the third answer is correct.