Current Attempt in Progress On April 22, 2020, Cullumber Enterprises purchased equipment for $143,500. The company expects to use the equipment for 12,500 working hours during its 4-year life and that it will have a residual value of $13,500. Cullumber has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 2,000 hours in 2020; 3,000 hours in 2021:3,600 hours in 2022; 2,700 hours in 2023; and 1,400 hours in 2024. Calculate depreciation expense for the life of the asset under straight-line method. (Round answers to decimal places, es 5,276) Depreciation Expense 2020 $ 2021 $ 2022 $ 2023 $ 2024 S O A @ E B Calculate depreciation expense for the life of the asset under double diminishing-balance method. (Round answers to decimal places, eg. 5,276.) Depreciation Expense 2020 $ 2021 $ 2022 $ 2023 $ Calculate a depreciation expense for the life of the asset under units-of-production method. (Round unit rate to 2 decimal places, eg. 2.25 and final answers to decimal places, eg. 5,276) Depreciation Expense 2020 $ 2021 $ 2022 $ 2023 $ 2024 $ Which method results in the lowest profit over the life of the asset? Which method results in the least cash used for depreciation over the life of the asset? Savetorlater Attempts: 0 of 1 used Submit Answer O H