Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $904,800. The equipment was expected to have a useful life of four years, or 10,000 operating hours, and a residual value of $74,800. The equipment was used for 3,800 hours during Year 1, 3,100 hours In Year 2, 1,800 hours in Year 3, and 1,300 hours in Year 4 Required: 1. Determine the amount of depreciation expense for the years ended December 31, Yoar 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-output 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 Year Units-of-Output Method Double-Declining-Balance Method Year 1 Straight-Line Method 207,500 x 207,500 315,400 X $ 257,300 Year 2 Year 3 207,500 $ 149,400 Year 4 207,500 x $ 107,900 X Total 830,000 830,000 830,000 2. What method yields the highest depreciation expense for Year 1? Double-declining-balance method