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A piece of machinery was acquired on October 2016 for $30.000. At that time. Ils estimated useful life was 8 years with a $6.000 residual value. The company's yearend is December 31. (Show calculations and round depreciation expenses to the closest DOLLARI 1. Calculate the depreciation expense for each of 2016, 2017 and 2018 using the double declining method 2 For 2019 give the necessary journal entry to record the depreciation using the double declining methods of this asset up to the June 30, 2019. 3. On June 30, 2019 the company purchased new machinery. The company acquired the new machinery by trading in its old machine paying 512.000 in cash and agreeing to pay $7.000 in 30 days to the seller of the machine. Give the necessary journal entries to record the trade-in of the old asset and the acquisition of the new one. Assume the company uses the double-declining method of depreciation What would the journal entries for the above purchase in part 3, if the company had instead used the straight line depreciation method? You must show calculations in order to receive marks. No work=marks