Depreciation of machinerv In early July 2015, Masterton Ltd is considering the acquisition of some machinery for $1 200 000 plus GST to be used in the manufacture of a new product. The machinery has a useful life of 10 years, during which management plans to produce 500 000 units of the new product. The residual value of the machinery is $100 000 The following projections were made in order to select a depreciation method to be used for the machinery: Units of output Repairs and maintenance Profit before depreciation Year ended 30 June 2016 2017 2018 2019 2020 50000 45000 55000 58000 60000 $ 70000 60000 90000 95000 100 000 $350000 340000 355 000 360000 380000 In calculating the profit before depreciation, all expenses have been deducted, including the repairs and maintenance expense. Required A. As the accountant for Masterton Ltd, prepare separate depreciation schedules for the machinery for the 5-year period, using the following depreciation methods: (a) straight-line, (b) diminishing balance, (c) sum-of-years'-digits, and (d) units-of-production. Use the following headings for each schedule: 'Year ending 30 June', 'Annual depreciation expense', 'Accumulated depreciation', 'Carrying amount at end of year