Equipment purchased at the beginning of the fiscal year for $150,000 is expected to have a useful life of 5 years, or 15,000 operating hours, and a residual value of $30,000. Compute the depreciation for the first and second years of use by each of the following methods:
(a) Straight-line
(b) Units-of-production (2,500 hours first year; 3,250 hours second year)
Declining-balance at twice the straight-line rate