1. (30 pts) Consider a 58000 piece of machinery, with a 3-year depreciable life and an estimated $1000 salvage value. The projected utilization of the machinery when it was purchased, and its actual production to date, are as follows: Year Projected Production (tons) Actual Production (tons) 1 5000 4000 2 6000 3000 3 3 4000 (Not yet known Compute the depreciation schedule using: (a)Double declining balance (b)MACRS with 60% bonus depreciation (MACRS rates are: Year 1: 33.33% Year 2: 44.45%, Year 3: 14.81%, Year 4: 7.41%) (e)Unit of production (for first 2 years only)