Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $533,600. The equipment was expected to have a useful life of four years, or 7,200 operating hours, and a residual value of $44,000. The equipment was used for 2,700 hours during Year 1, 2,200 hours in Year 2, 1,300 hours in Year 3, and 1,000 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 Year Units-of-Activity Method Double-Declining-Balance Method Year 1 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