Waylander Coatings Company purchased waterproofing equipment on January 6 for $1,031,600. The equipment was expected to...

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Waylander Coatings Company purchased waterproofing equipment on January 6 for $1,031,600. The equipment was expected to have a useful life of four years, or 10,400 operating hours, and a residual value of $85,200. The equipment was used for 4,000 hours during Year 1, 3,200 hours in Year 2, 1,900 hours in Year 3, and 1,300 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 four years by each method. Note: Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Year 1 236,600. $ 364,000. Year 2 236,600. $291,200. Year 3 236,600. $ 172,900. Year 4 236,600. $ 118,300. Total 946,400. $ 946,400. Double-Declining-Balance Method $ 515,800 257,900 128,950 53,825 X $ 967,125 X Waylander Coatings Company purchased waterproofing equipment on January 6 for $1,031,600. The equipment was expected to have a useful life of four years, or 10,400 operating hours, and a residual value of $85,200. The equipment was used for 4,000 hours during Year 1, 3,200 hours in Year 2, 1,900 hours in Year 3, and 1,300 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 four years by each method. Note: Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Year 1 236,600. $ 364,000. Year 2 236,600. $291,200. Year 3 236,600. $ 172,900. Year 4 236,600. $ 118,300. Total 946,400. $ 946,400. Double-Declining-Balance Method $ 515,800 257,900 128,950 53,825 X $ 967,125 X

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