Homework: Ch 10 Homework B - Graded Question 4, EF10-20 (similar to) Part 1 of 5 HW Score: 31.65%, 12.66 of 40 points O Points: 0 of 6 Save Granny's Fried Chicken bought equipment on January 2, 2024, for $21,000. The equipment Previous question in service for four years and to operate for 4,500 hours. At the end of the equipment's useful life, Granny's estimates that its residual value will be $3,000. The equipment operated for 450 hours the first year, 1,350 hours the second year, 1,800 hours the third year, and 900 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. Straight-Line Depreciation Schedule - X Depreciation for the Year Requirements Useful Life Depreciation Accumulated Expense Depreciation Book Value Date 1-2-2024 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. 12-31-2024 12-31-2025 2. Which method tracks the wear and tear on the equipment most closely? 12-31-2026 12-31-2027 Print Done Asset Depreciable Cost Cost + + + =