65% Tue 12:39 PM Q Mail-Warner, X Sign In The Stranger: X My Home CengageNOW X W One Hundred i x one hundred y X + m/ilmn/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator &inprogress=false 04 S Upe eBook Show Me How Print Item Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $320,000. The equipment was expected to have a useful life of four years, or 20,000 operating hours, and a residual value of $35,000. The equipment was used for 7,200 hours during Year 1, 6,400 hours in Year 2, 4,400 hours in Year 3, and 2,000 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Year 1 Units-of-Activity Method Year 21 Year 3 Year 4 Total 2. What method yields the highest depreciation expense for Year 1? Double-declining-balance method 3. What method yields the most depreciation over the four-year life of the equipment? All three depreciation methods Check My Work Double-Declining-Balance Method