Papa's Fried Chicken bought equipment on January 2, 2024, for $15,000. The equipment was expected to remain in service for four years and to operate for 2,400 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 240 hours the first year, 720 hours the second year, 960 hours the third year, and 480 hours the fourth year. Read the requirements Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Life Expense Depreciation Value 1-2-2024 $ 15,000 $ 15,000 12-31-2024 $ 12,000 4 years $ 3,000 $ 3,000 12,000 12-31-2025 12,000 - 3,000 6,000 9,000 12-31-2026 12,000 - 4 years 9,000 6,000 12-31-2027 12,000+ 4 years 3,000 12,000 3,000 4 years = 3,000 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 =