EF10-20 (similar to Granny's Fried Chicken bought equipment on January 2 2024 for $15.000. The aquipment was expected to remain in service for four years and to operate for 2000 hours. At the end of the equipmen's useful. Granny's estimates that its residual value will be $3,000. The equipment operated for 2 hours the first year 720 hours the second year, 960 hout the third year and 480 hours the fourth your Read the recitements Requirement 1. Prepare a schedule of depreciation opere acumulated depreciation and book y por your lortuguement under the three depreciation methods straight line units of production, and double declining-balance Show your computations Not Too deportion here Begin by preparing a depreciation schedule using the straight-line method. Straight Line Depreciation Schedule Depreciation for the Year Asset Depreciate Depreciation Accumulated book Cost LI Depreciation Value 22024 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? Print Done