Comparing Three Depreciation Methods mintsessiontocafor=&inprogress-false TE Waylander Coatings Company purchased waterproofing equipment on January 6 for $541,600. The equipment was expected to have a useful life of four years, or 9,200 operating hours, and a residual value of $44,800. The equipment was used for 3,500 hours during Year 1, 2,900 hours in Year 2, 1,700 hours in Year 3, and 1,100 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: Round the answer for each year to the nearest whole dollar, Depreciation Expense Year Straight Line Method Units-of-Activity Method Double-Declining Balance Method Year 1 Year 2 Year 3 Year 4 Total 2. What method yields the highest depreciation expense for Year 12