Comparing three depreciation methodsWaylander Coatings Company purchased waterproofing equipment on January $6$ for $$320,000.$ The equipment was expected to have a useful life of $4$ years, or $20,000$ operating hours, and a residual value of $$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 $4$ 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.Depreciation ExpenseYearStraight$-$LineMethodUnits$-$of$-$ActivityMethodDouble$-$Declining$-$Balance MethodYear $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 $152.$ What method yields the highest depreciation expense for Year $1?3.$ What method yields the most depreciation over the $4-$year life of the equipment?