Waylander Coatings Company purchased waterproofing equipment on January 6 for $508,400. The equipment was expected to have a usefut life of 4 years, or 8,800 operating hours, and a residual value of $42,000. The equipment was used for 3,300 hours during Year 1, 2,700 hours in Year 2, 1,600 hours in Year 3, and 1,200 hours in Year 4 . Required: 1. Determine the amount of depreciation expense for the years ended December 31 , Year 1 , Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-ofactivity method, and (c) the double-declining balance method. Also determine the total depreciation expense for the 4 years by each method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then, round the answer for each year to the nearest whole dollar. 2. What method yields the highest depreciation expense for Year 1 ? 3. What method yields the most depreciation over the 4 -year life of the equipment