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In: AccountingA machine was acquired on January 1, 2015, at a cost of $80,000.The machine was...A machine was acquired on January 1, 2015, at a cost of $80,000.The machine was originally estimated to have a residual value of$5,000 and an estimated life of 5 years. The machine is expected toproduce a total of 100,000 components during its life, as follows:15,000 in 2015, 20,000 in 2016, 20,000 in 2017, 30,000 in 2018, and15,000 in 2019.Instructions(a) Calculate the amount of depreciation to be chargedeach year, using each of the following methods: 1. Straight-line method 2. Units-of-production 3. Double diminishing-balance(b) Which method results in the highest depreciationexpense during the first two years? Over all five years?