c Chapter 9 Homework l earlyphos.com/course/33315/assignments/3653831 Current Attempt in Progress Payne Company purchased equipment on account on September 3, 2019, at an invoice price of $210,000. On September 4, 2019, it paid $4.400 for delivery of the equipment. A one-year, $1.975 insurance policy on the equipment was purchased on September 6, 2019.On September 20, 2019, Payne paid $5,600 for installation and testing of the equipment. The equipment was ready for use on October 1, 2019. Payne estimates that the equipment's useful life will be four years, with a residual value of $15,000. It also estimates that, in terms of activity, the equipment's useful life will be 82,000 units. Payne has a September 30 fiscal year end. Assume that actual usage is as follows: of Units Year Ended September 30 16,750 2020 27,600 2021 22,200 2022 16,350 2023 X Your answer is incorrect. Determine the cost of the equipment. Cost of equipment $ 221975 eTextbook and Media Activate Windows Go to Settings to activate Windows here to search 40 ENG 18-01-2020 Prepare depreciation schedules for the life of the asset under the following depreciation methods 1. straight-line 2. double diminishing balance 3. units of production (Round depreckoble amount per unit to 2 deomal places es. 5.27 and the final answers to decimal places, s: 5,276) 1. STRAIGHT-LINE DEPRECIATION End of Year Depr. Accum. Depr. Carrying Amount Depreciable Amount Year Expense 2020 5 2021 2022 2023 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION End of Year Year Carrying Amount Beginning Of Year Depr. Rate Depr. Expense Accum. Depr. Carrying Amount s Activate Windovs ate Windows 2020 2021 e here to search 19:40 Chapter 9 Homework 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION Year Carrying Amount Beginning or Your Der X X 2020 S 2021 2022 2023 X 3. UNITS-OF-PRODUCTION End of Years Units of Production Depr. Amt/Unit Depr. Expense Accum. Depr. Carrying Amount Year 2020 2021 2022 2023 Activate Windows Go to Settings to activate Windows e Textbook and Media to search of A90-640) ENG 18-01-2020