Well Medical Center bought equipment on January 2 for $27,000. The equipment was expected to remain in service for four years and to perform 650 operations. At the end of the equipment's useful life, Well estimates that its residual value will be $1,000. The equipment performed 65 operations the first year, 195 the second year, 260 the third year, and 130 the fourth year. Read the requirements. Requirement 1. Prepare a schedule of depreciation expense per year for the equipment under the three depreciation methods. After two years under double-declining balance depreciation, the company switched to the straight-line method. Units of Double-Declining Year Straight-Line Production Balance 1 N Year Straight-Line Production Balance 1 N 3 4 Total Requirement 2. Which method most closely tracks the wear and tear on the equipment? The method most closely tracks the wear and tear on the equipment. Requirement 3. Which method would Well prefer to use for income tax purposes in the first years of the equipment's life? Explain in detail why a taxpayer would prefer this method. Well would prefer to use the method for income tax purposes in the first years of the equipment's life because it produces the taxable income