Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $371,000. The equipment was expected to have a useful life of four years, or 9,200 operating hours, and a residual value of $30,600. 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. Year Year 1 Straight-Line Method Year 2 Year 3 Depreciation Expense Units-of-Activity Method Double-Declining-Balance Method Year 4 Total 2. What method yields the highest depreciation expense for Year 1? 3. What method yields the most depreciation over the four-year life of the equipment?