In recent years, Oriole Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Residual Value Useful Life (in years) Machine Acquired Cost Depreciation Method 1 Jan. 1, 2022 $91,000 $12,700 5 Straight-line 2 July 1, 2023 86,250 9,250 5 Diminishing-balance 3 Nov. 1, 2023 58,287 6,330 Units-of-production For the diminishing-balance method, Oriole Corporation uses double the straight-line rate. For the units-of-production method, total machine hours are expected to be 22,590. Actual hours of use in the first 3 years were: 2023, 420; 2024, 4,370; and 2025, 4,950. Calculation Depreciable Cost Depreciation Rate # of months Depreciation Expense Year 2022 $ 78300 20 % 12/12 $ 15660 $ 2023 78300 20 % 12/12 > 15660 2024 78300 20 % 12/12 15660 2025 78300 20 % 12/12 15660 2026 78300 20 % 12/12 15660 Depreciation Expense Accumulated Depreciation Carrying Amount ta $ 15660 $ 15660 $ 1 15660 31320 15660 46980 15660 62640 15660 78300