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A company purchased a machine on January 1 of the current year for $750,000. The machine is estimated to have a 5 year life and

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A company purchased a machine on January 1 of the current year for $750,000. The machine is estimated to have a 5 year life and a salvage value of $75,000. The factory manager estimates that the machine will produce a total of 20,000 units over its life. Actual units produced were: year 1 - 3,000; year 2- 4,000; year 3 - 5,000; year 4 - 5,000; year 5 - 3,000 units. Required: Calculate the annual depreciation expense for each year of live machine's life under each depreciation method. Record the annual depreciation in the table below and show calculations: Show supporting calculations for each method: Straight-line Annual Depreciation: Units of production: Double-declining-balance

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