Crackling Fried Chicken bought equipment on January 2, 2024, for $27,000. The equipment was expected to remain in service for four years and to operate for 5,250 hours. At the end of the equipment's useful life, Crackling estimates that its residual value will be $6,000. The equipment operated for 525 hours the first year, 1,575 hours the second year, 2,100 hours the third year, and 1,050 hours the fourth year. Read the requirements Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Date Asset Depreciable Cost Cost Useful Life Depreciation Accumulated Expense Depreciation Value Book 1-2-2024 12-31-2024 12-31-2025 12-31-2026 12-31-2027 Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit Depreciation per unit ( Prepare a depreciation schedule using the units-of-production method Requirements 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared. 2. Which method tracks the wear and tear on the equipment most closely