Delicious Fried Chicken bought equipment on January 2, 2024, for $18,000. The equipment was expected to remain in service for four years and to operate for 3.750 hours. At the end of the equipment's useful life, Delicious estimates that its residual value will be $3,000. The equipment operated for 375 hours the first year, 1.125 hours the second year, 1.500 hours the third vear and 750 hours the fourth year. - X Requirements 1. Prepare a schedule 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? Delicious Fried Chicken bought equipment on January 2, 2024, for $18,000. The equipment was expected to remain in serviu for four years and to operate for 3,750 hours. At the end of the equipment's useful life, Delicious estimates that its residual value will be $3,000. The equipment operated for 375 hours the first year, 1.125 hours the second year, 1,500 hours the third year, and 750 hours the fourth year. Read the requirements. 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 Cost Residual value ) Useful life in units Depreciation per unit (5 18,000 $ 3,000 3.750 $ 4 D- si Book Prepare a depreciation schedule using the units-of-production method Units-of-Production Depreciation Schedule SI Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Date Cost Per Unit Units Expense Depreciation 1-2-2024 $ 18,000 12-31-2024 12-31-2025 1,125 st 12-31-2026 1,500 = 12-31-2027 750 Value 18,000 375 = X