Ayayai Corporation purchased machinery on January 1, 2022, at a cost of $296,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $34,600. The company is considering different depreciation methods that could be used for financial reporting purposes.

Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION Computation Depreciable x Depreciation Rate = Annual Depreciation Expense Cost End of Year Accumulated Depreciation Years Book Value 2022 $ 2023 2024 2025