Which of the following statements is false? 1) Fixed assets other than land are "depreciated" over the period of time they benefit the firm. O2) The annual depreciation expense reported in the first year of depreciation generally reduces the reported income, if the straight-line method is used as compared to the accelerated method. 3) Management normally can choose two methods of depreciation, the straight- line method or the accelerated method. 4) The total amount of depreciation over the asset's life is the same regardless of the method, although the rate of depreciation varies