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, or 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. Round the answer for each year to the nearest whole dollar. Depreciation Expense Straight-Line Units-of-Activity Double-Declining-Balance Year Method Method Method Year 1 Year 2 Year 3 Year 4 Total $ 2. What method yields the highest depreciation expense for Year 17 Straight line method st depreciation over the four year life of the equipment? Units-of-activity method Double-declining balance method All three depreciation methods 3. What method yields the most depreciation over the four-year life of the equipment? Straight-line method Units-of-activity method Double-declining-balance method All three depreciation methods