P7-2 Compare three depreciation methods Bayside Coatings Company purchased waterproofing equipment on January 2, 20Y4, for $190.000 The equipment was expected to have a useful life of four years and a residual value of $9.090 Instructions Determine the amount of depreciation expense for the years ended December 31, 20Y4, 20Y5 2016, and 20Y7, by (a) the straight-line method and (b) the double-declining-balance method Also determine the total depreciation expense for the four years by each method. The following columnar headings are suggested for recording the depreciation expense amounts: Depreciation Expense Straight-Line Double-Declining-Balance Year Method Method Note: The spreadsheet icon indicates an Excel template is available on the student companion site