Widhorse Company purchased equipment on account on September 3, 2022 at an invoice price of $190,000, On September 4,2022. it paid $4,700 for delivery of the equipment. A one-year, $1,945 insurance policy on the equipment was purchased on September 6 . 2022 On September 20, 2022. Wildhorse paid \$3,300 tor installation and testing of the equipment. The equipment was ready for use on October 1.2022 . Widhorse estimates that the equipment's useful life will be four years, with a residual value of $13,000. It also estimates that, in terms of activity, the equipment's useful life will be 74,000 units. Wildhorse has a September 30 fiscal year end Assume that actual usage is as follows: Determine the cost of the equipment. Cost of equipment $ Prepare depreciation schedules for the life of the asset under the following depreciation methods: 1. straight-line 2. double diminishing-balance, assuming a rate of 50% 3. units-of-production Which method would result in the highest profit for the year ended September 30,2024 ? Which method would result in the highest profit over the life of the asset