1. (14 points) Brenan, Inc. purchased equipment at the beginning of 2004 for $2,100,000. Brenan. The equipment has an estimated residual value (salvage value) of $100.000 and an estimated life of 5 years or 100.000 hours of operation. The machinery was operated for 15,000 hours in 2004, 20,000 hours in 2005, 35,000 hours in 2006, 20,000 hours in 2007, and 10,000 hours in 2008. Create a depreciation schedule for each of the following depreciation methods for the years 2004 to 2008: 1. Straight-line depreciation method 2. Units-of-production method 3. Double-declining-balance depreciation method a. Straight-Line Date Cost Book Value Depreciation Accumulated Book Value (beginning) Expense Depreciation (ending) 2004 2005 2006 2007 2008 b. Units-of-Production Date Cost Book Value Depreciation Accumulated Book Value (beginning) Expense Depreciation (ending) 2004 2005 2006 2007 2008 c. Double-Declining Balance Date Cost Book Value Depreciation Accumulated Book Value (beginning) Expense Depreciation (ending) 2004 2005 2006 2007 2008 Record the depreciation joumal entry using the double-declining balance method for 2006