Comparing three depreclation methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $551,600. The equipment was expected to have a useful ife of 4 years, or 9,200 operating hours, and a residual value of $45,600. 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 (o) the straight-line meonod, (b) the unity-uh activity method, and (c) the double-decining-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. 2. What method yields the highest depreciation expense for Year 1 ? 3. What method vields the most depreciation over the 4-vesr Me of the equipment