Payne Company purchased equipment on account on September 3, 2019, at an invoice price of $210,000. On September 4, 2019, it paid $4,400 for delivery of the equipment. A one-year, $1,975 insurance policy on the equipment was purchased on September 6, 2019. On September 20, 2019, Payne paid $5,600 for installation and testing of the equipment. The equipment was ready for use on October 1, 2019. Payne estimates that the equipment's useful life will be four years, with a residual value of $15,000. It also estimates that, in terms of activity, the equipment's useful life will be 82,000 units. Payne has a September 30 fiscal year end. Assume that actual usage is as follows: # of Units Year Ended September 30 16,750 2020 27,600 2021 22,200 2022 16,350 2023 Determine the cost of the equipment. Cost of equipment $ e Textbook and Media Prepare depreciation schedules for the life of the asset under the following depreciation methods: 1. straight-line 2. double diminishing-balance 3. units-of-production (Round depreciable amount per unit to 2 decimal places, e.g. 5.27 and the final answers to O decimal places, e.g. 5,276.) 1. STRAIGHT-LINE DEPRECIATION Year Depreciable Amount 2020 $ 2021 2022 2023 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION Year Carrying Amount Beginning Of Year 2020 $ 2021 2022 2023 3. UNITS-OF-PRODUCTION Units of Production Year 2020 $ to 2021 2022 2023 e Textbook and Media Which method would result in the highest profit for the year ended September 30, 2021? Over the life of the asset? v method wo e Textbook and Media