Problem $9\mathrm{.}3$A $($Static$)$ Issues Involving Alternative Depreciation Methods $($LO$9-1,$ LO$9-2,$ LO$9-3,$ LO$9-5)$Hills Hardware purchased new shelving for its store on April $1,2021.$ The shelving is expected to have a $20-$year life and no residual value. The following expenditures were associated with the purchase. Cost of the shelving$$12,000$ Freight charges $520$ Sales taxes $780$ Installation of shelving $2,700$ Cost to repair shelf damaged during installation $400$ Required:a$-1.$ Compute depreciation expense for the years $2021$ through $2024,$ using the straight$-$line, with fractional years rounded to the nearest whole month.a$-2.$ Compute depreciation expense for the years $2021$ through $2024,$ using the $200$ percent declining$-$balance, using the half$-$year convention.a$-3.$ Compute depreciation expense for the years $2021$ through $2024,$ using the $150$ percent declining$-$balance, using the half$-$year convention.b$.$ What method of depreciation would Hills Hardware use on its federal tax return to achieve the lowest amount of taxable income in the early years of an asset's life?c$-1.$ Which of the depreciation methods applied in part a will result in the lowest reported book value at the end of $2024?$c$-2.$ Is book value an estimate of an assets fair value?d$-1.$ Assume that Hills Hardware sold the old shelving that was being replaced. The old shelving had originally cost $$9,000.$ Its book value at the time of the sale was $$400.$ Record the sale of the old shelving for $$1,100$ cash.d$-2.$ Assume that Hills Hardware sold the old shelving that was being replaced. The old shelving had originally cost $$9,000.$ Its book value at the time of the sale was $$400.$ Record the sale of the old shelving for $$175$ cash.