14) Superior Charters purchased a machine costing $40,000 on January 1, 2019. The machine has an estimated useful life of 5 years and a salvage value of $5,000.

1. Calculate depreciation expense for 2020 (5 points) using:
   1. Straight-line
   2. Double-declining balance

2. Determine the book value of the machine at December 31, 2020 (5 points) using:
   1. Straight-line
   2. Double-declining balance