Pharoah Enterprises purchased equipment on March 15, 2021, for $ 72,860. The company also paid the following amounts: $ 540 for freight charges; $ 207 for insurance while the equipment was in transit; $ 1,711 for a one-year insurance policy; $ 2,091 to train employees to use the new equipment; and $ 2,593 for testing and installation. The company began to use the equipment on April 1. Pharoah has estimated the equipment will have a 10-year useful life with no residual value. It expects to consume the equipment's future economic benefits evenly over the useful life. The company has a December 31 year end. (b) Which depreciation method should the company use? Units-of-production method Diminishing-balance method Straight-line method