Diamond Autobody purchased a new equipment. The new equipment cost $118,000 including installation. The company estimates the equipment will have a residual value of $29,500. Diamond Autobody also estimates it will use the equipment for four years or about 8,000 total hours. Actual use per year was as follows: Required: 1. Prepare a depreciation schedule for four years using the straight-line method. 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) 3. Prepare a depreciation schedule for four years using the activity-based method. Complete this question by entering your answers in the tabs below. Prepare a depreciation schedule for four years using the straight-line method. Diamond Autobody purchased a new equipment. The new equipment cost $118,000 including installation. The company estimates the equipment will have a residual value of $29,500. Diamond Autobody also estimates it will use the equipment for four years or about 8,000 total hours. Actual use per year was as follows: Required: 1. Prepare a depreciation schedule for four years using the straight-line method. 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) 3. Prepare a depreciation schedule for four years using the activity-based method. Complete this question by entering your answers in the tabs below. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.) Diamond Autobody purchased a new equipment. The new equipment cost $118,000 including installation. The company estimates th equipment will have a residual value of $29,500. Diamond Autobody also estimates it will use the equipment for four years or about 8,000 total hours. Actual use per year was as follows: Required: 1. Prepare a depreciation schedule for four years using the straight-line method. 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) 3. Prepare a depreciation schedule for four years using the activity-based method. Complete this question by entering your answers in the tabs below. Prepare a depreciation schedule for four years using the activity-based method. (Round your "Depreciation Rate" to 3 decimal places and use this amount in all subsequent calculations. Round answers to the nearest whole dollar.)