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Comparing three depreciation methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $ 7 2 0 , 8 0 0 . The equipment

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Comparing three depreciation methods
Waylander Coatings Company purchased waterproofing equipment on January 6 for $720,800. The equipment was expected to have a useful life of 4 years, or 7,600 operating hours, and a residual value of $59,600. The equipment was used for 2,900 hours during Year 1,2,400 hours in Year 2,1,400 hours in Year 3, and 900 hours in Year 4.
Required:
Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-ofactivity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the 4 years by each method.
Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then, round the answer for each year to the nearest whole dollar.
Depreciation Expense
\table[[Year,\table[[Straight-Line],[Method]],\table[[Units-of-Activity],[Method]],\table[[Double-Declining-],[Balance Method]]],[Year 1,,,$
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