Cheyenne Corporation purchased machinery on January 1,2022 , at a cost of $260,000. The estimated useful life of the machinery is years, with an estimated salvage value at the end of that period of $31,000. 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. Cheyenne Corporation purchased machinery on January 1,2022 , at a cost of $260,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $31,000. 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. Depreciation expense for 2020 under Double declining-balance is adjusted so that ending book value is equal to salvage value. Depreciation expense for 2020 under Double declining-balance is adjusted so that ending book value is equal to salvage value. eTextbook and Media (b1) Which method would result in the higher reported 2022 income? (b2) Which method would result in the highest total reported income over the 4-year period? eTextbook and Media (c1) Which method would result in the lower reported 2022 income? (c2) Which method would result in the lowest total reported income over the 4-year period