Mercy Medical Center bought equipment on January 2 for $42,000. The equipment was expected to remain in service for four years and to perform 1.200 operations At the end of the equipments useful life, Mercy estimates that its residual value will be $6,000. The equipment performed 120 operations the first year, 360 the second year, 480 the third year, and 240 the fourth year Read the requirements Requirement 1. Prepare a schedule of depreciation expense per year for the equipment under the three depreciation methods. After two years under double-declining balance depreciation, the company switched to the straight-line method. Year Straight-Line 1 2 3 4 corr Total ... Requirements 1. Prepare a schedule of depreciation expense per year for the equipment under the three depreciation methods. After two years under double-declining balance depreciation, the company switched to the straight-line method. 2. Which method most closely tracks the wear and tear on the equipment? 3. Which method would Mercy prefer to use for income tax purposes in the first years of the equipment's life? Explain in detail why a taxpayer would prefer this method. Print Done