Blue Jays Corporation purchased machinery on January 1, 2019, at a cost of $280,000. The estimated useful life of the machinery is five years, with a residual value of $10,000. The company is considering which depreciation method to use for financial reporting purposes. Required a) Record the annual depreciation for 2021 using the straight-line method (2 marks) b) Record the annual depreciation for 2020 using the double-diminishing method (2 marks) c) Which method would result in the higher cash flow for 2019? Over the five-year period? (1 mark) d) Record the sale of the machinery on September 1st, 2022 for $140,000 cash. Assume the straight- line method of depreciation is used. (2 marks)