Cullumber Company purchased equipment on account on September 3, 2019, at an invoice price of $182,000. On September 4, 2019, it paid $3,900 for delivery of the equipment. A one-year $1,905 insurance policy on the equipment was purchased on September 6, 2019. On September 20, 2019, Cullumber paid $4,100 for installation and testing of the equipment. The equipment was ready for use on October 1, 2019 , Cullumber estimates that the equipment's useful life will be four years, with a residual value of $7,000. It also estimates that, in terms of activity, the equipment's useful life will be 73,200 units. Cullumber has a September 30 fiscal year end. Assume that actual usage is as follows: # of Units Year Ended September 30 15,420 2020 23,720 2021 20,020 2022 14,940 2023 Determine the cost of the equipment. Cost of equipment $ Prepare depreciation schedules for the life of the asset under the following depreciation methods: 1. straight-line double diminishing-balance 2. 3. units of production (Round depreciable amount per unit to 2 decimal places, eg. 5.27 and the final answers to decimal places, eg. 5,276.) 1. STRAIGHT-LINE DEPRECIATION Year Depreciable Amount Depr. Rate Depr. Expense Accu Dep X 2020 $ % $ $ 2021 % 2022 % 2023 % 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION Year Carrying Amount Beginning Of Year Depr. Rate Depr. Expense Ac D = 2020 $ % $ 2021 % 2022 % 2023 % 3. UNITS-OF-PRODUCTION - Units of Production Depr. Amt/Unit / Depr. Expense Accum Depr. Year 2020 $ $ $ 2021 2022 2023 Which method would result in the highest profit for the year ended September 30, 2021? Over the life of the asset? method would result in the highest profit for the year ended September 30, 2021. Over the