Comparing three depreciation methods Waylander Coatings Company purchased woterproofing equipment on January 6 for $662,800. The equipment was expected to have a useful life of 4 years, or 8,000 operating hours, and a resldual value of $54,800, The equipment was used for 3,000 hours during Year 1, 2,500 hours in Year 2,1,400 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 (o) the straight-line method, (b) the unita-cofactivity method, and (c) the double-declining-balanco method. Also determine the total depreciation expense for the 4 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. 2. What method yields the highest depreciation expense for Year 1 ? 3. What method yieids the most depreciation over the 4-year life of the equipment