Wonder Fried Chicken bought equipment on January $2,2024,$ for $$21,000.$ The equipment was expected to remain in service for four years and to operate for $3,600$ hours. At the end of

the equipment's useful life, Wonder estimates that its residual value will be $$3,000.$ The equipment operated for $360$ hours the first year, $1,080$ hours the second year, $1,440$ hours the third year,

and $720$ hours the fourth year.

Read the requirements.

Requirement $1.$ Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight$-$

line, units$-$of$-$production, and double$-$declining$-$balance. Show your computations. Note: Three depreciation schedules must be prepared.

Begin by preparing a depreciation schedule using the straight$-$line method.

Requirements

Prepare a schedule of depreciation expense, accumulated depreciation, and

book value per year for the equipment under the three depreciation methods:

straight$-$line, units$-$of$-$production, and double$-$declining$-$balance. Show your

computations. Note: Three depreciation schedules must be prepared.

Which method tracks the wear and tear on the equipment most closely?