2. 25 pts. Hamburg Company purchased a machine in 2018 for $800,000. The machine has a five year life and a salvage value of $100,000. They depreciated the machine for three years using double declining balance depreciation. At the beginning 2021, they decided that the machine had three years of useful life remaining and a salvage value of $30,000 and should be depreciated using straight line depreciation . Journalize the depreciation expense for 2021. Hamburg Company also had been using the completed contract method to recognize profits for 2020 and 2019. They have chosen to use the percentage of completion method and correct any bonuses paid in the past. CEO Frau Helga Munster is paid a bonus of 3% of construction profits. 2020 2019 Completed Contract $400,000 $450,000 Percentage of Completion $600,000 $580,000 Determine the amount of bonus paid to the CEO in 2020. 2. 25 pts. Hamburg Company purchased a machine in 2018 for $800,000. The machine has a five year life and a salvage value of $100,000. They depreciated the machine for three years using double declining balance depreciation. At the beginning 2021, they decided that the machine had three years of useful life remaining and a salvage value of $30,000 and should be depreciated using straight line depreciation . Journalize the depreciation expense for 2021. Hamburg Company also had been using the completed contract method to recognize profits for 2020 and 2019. They have chosen to use the percentage of completion method and correct any bonuses paid in the past. CEO Frau Helga Munster is paid a bonus of 3% of construction profits. 2020 2019 Completed Contract $400,000 $450,000 Percentage of Completion $600,000 $580,000 Determine the amount of bonus paid to the CEO in 2020