Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $708,600. The equipment was expected to have a useful life of four years, or 10,000 operating hours, and a residual value of $58,600. The equipment was used for 3,800 hours during Year 1, 3,100 hours in Year 2, 1,800 hours in Year 3, and 1,300 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 Straight-Line Method Units-of-Activity Method Double-Declining-Balance Method Year Year 3 Total 2. What method yields the highest depreciation expense for Year 17 3. What method yields the most depreciation over the four-year life of the equipment