Comparing three depreciation methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $383,600. The equipment was expected to have a useful life of 4 years, or 6,400 operating hours, and a residual value of $31,600. The equipment was used for 2,400 hours during Year 1, 2,000 hours in Year 2, 1,200 hours in Year 3, and 800 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-of-activity 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. Depreciation Expense Units-of-Activity Year Straight-Line Method Double-Declining- Method Balance Method 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 4-year life of the equipment?