A depreciable asset has an estimated 15 percent salvage value. At the end of its estimated useful life, the accumulated depreciation would equal the original cost of the asset under which of the following depreciation methods? Productive- Sum-of-the- Double- Output Years'-Digits Declining-Balance Select one: a. Yes No No b. No No No c. No Yes No d. Yes Yes Yes 12. Depreciation of noncurrent operating assets is an accounting process for the purpose of Select one: a. reporting declining asset values on the balance sheet. b. allocating asset costs over the periods benefited by use of the assets. c. accounting for costs to reflect the change in general price levels. d. setting aside funds to replace assets when their economic usefulness expires. 13. In January, Fanning Corporation entered into a contract to acquire a new machine for its factory. The machine, which had a cash price of $400,000, was paid for as follows: Down payment .......................................... $ 30,000 Note payable in 10 equal monthly installments ......... 240,000 1,000 shares of Hunter common stock with an agreed value of $50 per share .............................. 50,000 Total ................................................. $320,000 Prior to the machine's use, installation costs of $10,000 were incurred. The machine has an estimated useful life of ten years and an estimated salvage value of $10,000. What should Hunter record as depreciation expense for the first year under the straight-line method? Select one: a. $38,100 b. $39,100 c. $40,000 d. $41,000