A company purchases a Machine worth $50,000, which it expects to last 4 years and to have a salvage value of $10,000. The company's fiscal year ends Dec 31st, 2021. 1. a) Prepare a schedule of depreciation for the four years using the straight-line method assuming the item was purchased on Jan 1st, 2021. Show formula for first column and Book Value. (20 Marks) Year Net Book Value Straight-line Depreciation Depreciation Expense Accumulated Depreciation 2021 I 2022 2023 2024 b) Prepare a schedule of depreciation for the four years using the straight-line method assuming the item was purchased on Mar 1st, 2021. Show formula for first column and Book Value. Year Straight-line Depreciation Depreciation Expense Net Book Value Accumulated Depreciation 2021 2022 2023 2024 2. a) For the same machine, prepare a schedule of depreciation for the six years using the declining-balance method. The machine was purchased Mar 1 2021. The Canada Customs and Revenue Agency's prescribed rate for depreciation is 25%. Assume full year and 50% rule does not apply. Show formulas for first and last column. Year Net Book Value Declining Balance Depreciation Depreciation Expense Accumulated Depreciation 2021 2022 2023 1 2024 b) Prepare a schedule of depreciation for the four years using the declining-balance method using the same information and assume full year and 50% rule does apply. Show formulas for first and last column. Year Net Book Value Declining Balance Depreciation Depreciation Expense Accumulated Depreciation 2021 2022 2023 2024 c) Which method would provide the best tax advantage at the end of the second year? Describe how you determined your answer. (4 Marks)