Papa's Fried Chicken bought equipment on January 2, 2024, for $21,000. The equipment was expected to remain in service for four years and to operate for 3,600 hours. At the end of the equipment's useful life, Papa's estimates that its residual value will be $3,000. The equipment operated for 360 hours the first year, 1,080 hours the second year, 1,440 hours the third year, and 720 hours the fourth year. Read the requirements Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. ( Depreciation per unit ( Prepare a depreciation schedule using the units-of-production method. Units-of-Production Depreciation Schedule Requirements Depreciation for the Year Asset Number of Accumulated Book Depreciation Per Unit Depreciation Expense Date Cost Units Depreciation Value 1-2-2024 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? 12-31-2024 12-31-2025 x 12-31-2026 x 12-31-2027 Print Done Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "0" for any items with a zero value.) Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Book Date Cost Value Rate Expense Depreciation Value