Mama's Fried Chicken bought equipment on January 2, 2024, for $30,000. The equipment was expected to remain in service for four years and to operate for 8,000 hours. At the end of the equipment's useful life, Mama's estimates that its residual value will be $6,000. The equipment operated for 800 hours the first year, 2,400 hours the second year, 3,200 hours the third year, and 1,600 hours the fourth year. Read the requirements. Requirement 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. Begin by preparing a depreciation schedule using the straight-line method. Straiaht-Line Debreciation Schedule Requirements 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. Get more help . 2. Which method tracks the wear and tear on the equipment most closely