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 d. Record the depreciation journal entry using the double-declining balance method for 2006