If a company wanted to depreciate its long-lived assets with high depreciation in the early years and lower depreciation in the later years, which method would be the best choice? Units of activity Declining balance Straight line Percentage of credit sales 6 points On January 1, 2019, a company issued 5600,000 of 10 year, 8% bonds. Interest is paid annually on January 1. The bonds were issued at 98. Which of the following statements is INCORRECT regarding this transaction? The discount will effectively RAISE the cost of interest for the company The company will only repay $588,000 when the bonds mature The company will pay annual interest expense of $48,000 to its bondholders The Discount on Bonds Payable account will be debited for $12,000