Modern Products Company purchased new packaging equipment for $245,000 on January 1,2016.The equipment is expected to be used for 6 years,or 60,000 operating hours.It has an estimated salvage value of $5,000.The equipment was used for 10,000 hours in 2016,15,000 hours in 2017,and 12,000 hours in 2018.
Compute annual depreciation expense for the first three years,using the straight-line method,the double-declining balance method,and the units of output method. 
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