7920 and 19360 are correct answers.

Just need Double Declining Method and what method would you recommend.

(10745 and straight-line method are incorrect answers)

Concord Company purchased Machine #201 on May 1, 2020. The following information relating to Machine #201 was gathered at the end of May Price Credit terms Freight-in Preparation and installation costs Labor costs during regular production operations $93,500 2/10, 1/30 $ 880 $ 4.180 $11,550 It is expected that the machine could be used for 10 years, after which the salvage value would be zero. Concord intends to use the machine for only 8 years, however, after which it expects to be able to sell it for $1.650. The invoice for Machine #201 was paid May 5. 2020. Concord uses the calendar year as the basis for the preparation of financial statements. Compute the depreciation expense for the years indicated using the following methods. Depreciation Expense 7920 (1) Straight-line method for 2020 (2) 19360 $ $ $ Sum-of-the-years-digits method for 2021 10745 (3) Double-declining-balance method for 2020 X Your answer is incorrect. Suppose Elizabeth Brown, the president of Concord, tells you that because the company is a new organization, she expects it will be several years before production and sales reach optimum levels. She asks you to recommend a depreciation method that will allocate less of the company's depreciation expense to the early years and more to later years of the assets' lives. What method would you recommend? Straight-line Method Activity Method Decreasing Change Method Special Depreciation Method Sa Straight-line Method Attempts: 1 of 3 used Submit Answer w