Which of the following statements is most correct?

Question 5 (3 points) Which of the following statements is most corfect? 1) Statement 1: Double declining balance depreciation produces greater depreciation expense in the later years of an asset's life than straight-line depreciation. 2) Statement 2: Double declining balance depreciation produces greater book- value than straight line in the later years of an asset's life. 3) Statement 3: Double declining balance depreciation produces lower income than straight line throughout an asset's life 4) Statements 1, 2, and 3 are all correct. 5) None of these statements are correct