CP 8-7 Refer to the information in CP 8-4. At December 31, 2021, Mayr revised its estimate of the machine's useful life to four years. The salvage value remained the same. Required: Calculate the depreciation for 2021 using 1. The straight-line method 2. The double-declining balance method. CP 8-4 Mayr Inc. purchased a machine for its factory on June 6, 2019 for $110,000. The machine is expected to have an estimated useful life of ten years with a salvage value of $10,000. Assume the company uses the year rule to calculate depreciation expense in the year of acquisition and disposal. Required: Compute the depreciation for 2019 and 2020 using 1. The straight-line method 2. The double-declining balance method