Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $320,000. The equipment was expected to have a useful life of four years, of 20,00 operating hours, and a residual value of $35,000. The equipment was used for 7,200 hours during Year 1.6,400 hours in Year 2, 4,400 hours in Year 3, and 2,000 hour 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 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. The 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 5 Total $ 2. What method yields the highest depreciation expense for Year 19 3. What method yields the most depreciation over the four-year life of the equipment