3. Your company has purchased equipment for $50,000 that will reduce materials. After 8 years there will be no further need for the machine, since the machine is especially designed, it will have no salvage value at the time. Determine the amount of depreciation each year using the following methods: a. Straight line method. b. Sum of the year's digit method. c. Declining balance by 200%. d. Sinking fund method, an interest of 10% for 8 years