Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $307,000. The equipment was expected to have a useful life of four years, or 6,400 operating hours, and a residual value of $25,400. The equipment was used for 2,400 hours during Year 1, 2,000 hours in Year 2, 1,200 hours in Year 3 and 800 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 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 Year 1 Double-Declining-Balance Method Year 2 Year 3 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