3. (7 points) Robert Parish Corporation purchased a new machine for its assembly process on January 1, 2014. The cost of this machine was $412,000. The company estimated that the machine would have a salvage value of $12,000 at the end of its service life. Its life is estimated at 4 years, and its working hours are estimated at 50,000 hours. Year-end is December 31. Instructions Compute the depreciation expense under the following methods and complete the depreciation schedules below. (a) Straight-line depreciation. (b) Activity method, assuming that machine usage was 15,000 hours for 2014; 14,000 hours for 2015; 13,000 hours for 2016 and 8,000 hours for 2017. (c) Sum-of-the-years'-digits. (d) Double-declining-balance. Straight-line Year Book Value, Beginning Accumulated Depreciation Cost Depreciation Expense Book Value, Ending => depr exp. =Cost - A/D 2 3 4 Units-of-Production (Activity) Year Book Value, Beginning Accumulated Depreciation Cost Depreciation Expense Book Value, Ending =Cost - A/D = depr exp. 1 2 3 4 Sum-of-the-Years' Digits Year Book Value, Beginning Accumulated Depreciation Cost Depreciation Expense Book Value, Ending = depr exp. =Cost - A/D 1 2 3 4