Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $320,000. The equipment was expected to have a us e of four years of 20.000 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 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 Units-of-Activity Method Year Straight-Line Method Double-Declining-Balance Method Year 1 Year 3 Year 4 Total 2. What method yields the highest depreciation expense for Year 17 3. What method yields the most depreciation over the four year life of the equipment