1- Piazza Co. purchased a machine on July 1, 2020, for $1,000,000. The machine has an estimated useful life of five years and a salvage value of $200,000. Using the declining-balance method. For the year ended December 31, 2021, Piazza should record depreciation expense on this machine of

2- On April 1, 2020, Ramtha Co. purchased new machinery for $450,000. The machinery has an estimated useful life of five years, and depreciation is computed by the sum-of-the-years'-digits method. The depreciation expense on this machinery for 2021 should be

3- The original cost of an inventory item is above the replacement cost and the net realizable value. The replacement cost is below the net realizable value less the normal profit margin. As a result, under the lower-of-cost-or-market method, the inventory item should be reported at the

A. net realizable value.

B. net realizable value less the normal profit margin.

C. replacement cost.

D. original cost.