(18 points) 13. South Bend Hardware Company has a giant paint mixer that cost $31,500. The estimated salvage value of the paint mixer at the end of its useful life of 15 years is estimated to be $1,500. South Bend estimates that the machine can mix 200,000 cans of paint during its lifetime. During the first year of operations, the machine mixed 10,000 cans of paint; during the second it mixed 25,000 cans; during the third it mixed 20,000 cans of paint. 1. Compute depreciation expense for the THIRD year of the paint mixer's life under each of the following methods. (Show calculations if you wish partial credit). (12 points) Straight-line Units-of production Double-declining balance 2. Show how the paint mixer would be reported on the balance sheet at the end of the third year assuming that they used the straight-line method. ( 3 points) 3. Again, assume that the company used the straight-line method. If they sold the machine at the end of the third year for $27,200, how much gain or loss would the company report? ( 3 points)