Flounder Corporation purchased machinery on January 1, 2022, at a cost of $ 262,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $ 31,200. The company is considering different depreciation methods that could be used for financial reporting purposes. DOUBLE-DECLINING-BALANCE DEPRECIATION Computation Years Book Value Beginning of Year Depreciation Rate Annual Depreciation Expense 2022 $ % $ 2023 % 2024 % 2025 % 1,550 $ End of Year Accumulated Depreciation Book Value $ $