Waylander Coatings Company purchased waterproofing equipment on January 6 for $714,200. The equipment was expected to have a useful life of four years, or 7,200 operating hours, and 3 residual value of $59,000. The equipment was used for 2,700 hours during Year 1, 2,200 hours in Year 2, 1,300 hours in Year 3, and 1,000 hours in Year 4 Required: 1. Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year ), and Your 4, by (a) the straight-line method, (b) the units of activity mattiod, ond (c) the double declining-balance method. Also determine the total depreciation expense for the four years by each method, Note: Round the answer for each year to the nearest whole dollar Depreciation Expense Straight-Line Method Units-of-Activity Method Double-Declining-Balance Method Year Year 1 Year 2 Year 3 Year 4 Total 2. What method yields the highest depreciation expense for Year 1? 3. What method yields the most depreciation over the four year life of the equipment