Comparing Three Depreciation Methods

Waylander Coatings Company purchased waterproofing equipment on January $6$ for $$922,600.$ The equipment was expected to have a useful life of four years, or $9,200$ operating hours, and a residual value of $$76,200.$ The equipment was used for $3,500$ hours during Year $1,2,900$ hours in Year $2,1,700$ hours in Year $3,$ and $1,100$ 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: 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 $1$ $fill in the blank $1$ $fill in the blank $2$ $fill in the blank $3$

Year $2$ $fill in the blank $4$ $fill in the blank $5$ $fill in the blank $6$

Year $3$ $fill in the blank $7$ $fill in the blank $8$ $fill in the blank $9$

Year $4$ $fill in the blank $10$ $fill in the blank $11$ $fill in the blank $12$

Total $fill in the blank $13$ $fill in the blank $14$ $fill in the blank $15$

$2.$ 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?