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? Papa's Fred Chicken bought equipment on January 2, 2024, for $21,000. The equipment was expected to remain in service for four years and to operate for 3,600 hours. At the end of the equipment's useful life, Papa's estimates that its residual value will be $3,000. The equipment operated for 360 hours the first year, 1,090 hours the second year, 1,440 hours the third year, and 720 hours the fourth year. Read the ceguirements: Requirement 1. Prepare a schedule of depreciation expenso, accumulated depreciation, and book value per year for the equipment under the three depreciabion methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Throe depreciofion schediles must be prepored. Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Before calculating the units-of-production depreciation schedule, calculate the depreciasion expense per unit. Select the formula, then enter the amounts and caiculate the decreciation excense ver unit. Before calculating the units-ot-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. (,))=Depreciatonperunt(= Prepare a depreciasion schedule using the units-ot-production method Prepare a depreciation schedule using the units-of-production method. Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a " 0 " for any items with a zero value.) Double-Declinina-Balance nenreciation Srhedula Requirement 2. Which method tracks the wear and tear on the equipment most closely? The method tracks wear and tear most closely