Question 19 Crane Company purchased equipment on account on September 3, 2019, at an invoice price of $192,000. On September 4, 2019, it paid $4,900 for delivery of the equipment. A one-year, $1,955 insurance policy on the equipment was purchased on September 6, 2019. On September 20, 2019, Crane paid $3,100 for installation and testing of the equipment. The equipment was ready for use on October 1, 2019. Crane estimates that the equipment's useful life will be four years, with a residual value of $12,000. It also estimates that, in terms of activity, the equipment's useful life will be 75,200 units. Crane has a September 30 fiscal year end. Assume that actual usage is as follows: # of Units 15,520 23,820 20,120 16,640 Year Ended September 30 2020 2021 2022 2023 Determine the cost of the equipment. Cost of equipment 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.)