A. B. QUESTION 4 On January 1, 2022, Seinfeld Mfg. Co. purchased a drill press at a cost of $46,000. The drill press is expected to last 10 years and has a residual value of $6,000. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2022, 2023, and 2024, 35,000, 86,000, and 110,000 units, respectively, were produced. Compute depreciation for 2022, 2023 and 2024 and the book value of the drill press at December 31, 2022, December 31, 2023, and December 32, 2024, assuming the units-of-production method is used. (Round depreciation per unit to 2 decimal places.) In addition to the drill press, Seinfeld Mfg. Co. purchased a machinery at a cost of $250,000 on January 1, 2022. The machinery is expected to last 8 years and has a residual value of $30,000. Compute depreciation for 2022, 2023 and 2024 and the book value of the drill press at December 31, 2022, December 31, 2023, and December 31, 2024 assuming the double-declining balance method is used. (Round intermediary dollar amounts to 2 decimal places.) Extra Credit 10 points Compute the remaining years of depreciation expense for the machinery.