Pharoah Company purchased equipment on account on September 3, 2019, at an invoice price of $196,000. On September 4, 2019, it paid $4,900 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. Pharoah paid $3,100 for installation and testing of the equipment. The equipment was ready for use on October 1, 2019 Pharoah estimates that the equipment's useful life will be four years, with a residual value of $14,000. It also estimates that, in terms of activity, the equipment's useful life will be 76,000 units. Pharoah has a September 30 fiscal year end. Assume that actual usage is as follows: # of Units Year Ended September 30 2020 15.560 23,860 2021 20,160 2022 17.320 2023 Your answer is correct. Determine the cost of the equipment. Cost of equipments 204000 eTextbook and Media Attempts: 2 of 5 used (b) (b) Your answer is incorrect. Prepare depreciation schedules for the life of the asset under the following depreciation methods: 1. straight-line 2. double diminishing-balance units-of-production 3. (Round depreciable amount per unit to 2 decimal places, es 5.27 and the final answers to decimal places, eg, 5.276) 1. STRAIGHT-LINE DEPRECIATION Depr. Rate Accu Dep Depr. Expense Depreciable Amount Year 15C Wee (Round depreciable amount per unit to 2 decimal places, es. 5.27 and the final answers to decimal places, eg,5,276.) 1. STRAIGHT-LINE DEPRECIATION Year Depreciable Amount Depr. Rate Depr. Expense Accut Depi 2020 $ $ 96 96 2021 % 2022 % 2023 CODECIATION 1. STRAIGHT-LINE DEPRECIATION End of Year Depr. Rate Depr. Expense Accum Depr. Carrying Amount % $ 90 % R 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION Act Year Carrying Amount Beginning Of Year Depr. Rate Depr. Expense DE 2020 $ 96 % 2021 2022 % % 2023 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION End of Year Depr. Rate Depr. Expense Accum. Depr. Carrying Amount % $ % %6 96 3. UNITS-OF-PRODUCTION Year Units of Production Depr. Amt/Unit Depr. Expense Accum, Depr. 2020 2021 2022 2023 3. UNITS-OF-PRODUCTION End of Year Depr. Amt/Unit Depr. Expense Accum. Depr. Carrying Amount $ $