In 2014, Martin Motors has a gross profit of $400000, operating expenses of $180,000 (not including depreciation), and a tax rate of 40%. On January 10, 2014, Martin Motors purchased a machine that will help diagnose problems with engines. The machine cost $210,000, residual value of $20,000, and useful life of 5 years. Prepare two income statements to show the board of directors the depreciation method (straight-line or double declining), that would be best for financial statement purposes and the depreciation method that would be best suited to improve cash flow in 2014. Also, explain to the board, the impact on cash flows and expense over the entire life of the asset. Show depreciation calculations