III. Depreciation of Capital Assets (10 marks) Georgia Automotive purchased equipment on October 1, 2021, at a total cost of $150,000. The machine has an estimated useful life of 8 years or 100,000 hours, and an estimated residual value of $ 10,000. During 2021 and 2022, the machinery used 4,400 and 12,800 hours, respectively. Instructions: Compute depreciation expense at December 31, 2021 and December 31, 2022 (for both years), under each of the following depreciation methods: (1) Straight-line depreciation, (2) Units-of-Production depreciation, and (3) Double Diminishing-balance depreciation. Show how your calculations are derived