Comparing Three Depreciation Methods

Waylander Coatings Company purchased waterproofing equipment on January $6$ for $$265,000.$ The equipment was expected to have a useful life of four years, or $7,600$ operating hours, and a residual value of $$21,800.$ The equipment was used for $2,900$ hours during Year $1,2,400$ hours in Year $2,1,400$ hours in Year $3,$ and $900$ 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