Flounder Corporation purchased machinery on January 1,2025 , 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 (a) Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION STRAIGHT-LINE DEPRECIATION \begin{tabular}{|l|l|l} \hline Depreciation Rate & = Annual Depreciation Expense \\ \hline% & % \\ \hline% \\ \hline \end{tabular} Computation DOUBLE-DECLINING-BALANCE DEPRECIATION End of Year Depreciation Rate = Annual Depreciation Expense Accumulated Depreciation Book Value W $ ow eTextbook and Media Save for Later