a QUESTION 2 Panizzi Ltd purchased machinery costing $90 200 incl. GST. The machinery is expected to have a residual value of $13 200 incl. GST at the end of its useful life of 4 years or 50 000 hours. Required Assume the machinery was purchased on 1 January 2018 and that the accounting period ends on 31 December Calculate the depreciation expense for the years 2018 & 2019 using each of the following depreciation A methods: = B. 1. Straight-line method 2. Sum of the year digit method 3. Diminishing balance method at a rate of 25% per annum Assume the machinery was purchased on 1 December 2018 and that the accounting period ends on 30 June 2019. Calculate the depreciation expense for the year ending June 30 2019 using each of the following depreciation methods, round to the nearest dollar: 1. Straight-line method 2. Diminishing balance method at a rate of 25% per annum 3. Units of production method (assume machinery usage hours were 8 000 during the financial year). 1. Straight-line: 2. Sum of year digits: 3. Diminishing balance: B 1. Straight-line: 2. Diminishing balance: Units-of-production