Part 1 of 5 Points: 0 of 1 Save Crispy Fried Chicken bought equipment on January 2, 2025, for $27,000. The equipment was expected to remain in service for four years and to operate for 2,100 hours. At the end of the equipment's useful life, Crispy Fried Chicken estimates that its residual value will be $6,000. The equipment operated for 210 hours the first year, 630 hours the second year, 840 hours the third year, and 420 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. Straight-Line Depreciation Schedule Depreciation for the Year Date Asset Depreciable Cost Cost Useful Depreciation Accumulated Book Life Expense Depreciation Value 1-2-2025 12-31-2025 12-31-2026 12-31-2027 12-31-2028 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 2. Which method tracks the wear and tear on the equipment most closely? - X