In recent years, Sheridan 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, 2018 $101,000 $11,000 5 Straight-line 2 July 1, 2019 85,000 10,410 5 Diminishing-balance 3 Nov. 1, 2019 70,290 6,570 6 Units-of-production For the diminishing-balance method, Sheridan Corporation uses double the straight-line rate. For the units-of-production method, total machine hours are expected to be 23,600. Actual hours of use in the first 3 years were: 2019,440; 2020,4,700; and 2021, 4,770. Machine 2: Diminishing-balance depreciation Calculation Carrying Amount Beg. of Year Depreciation Rate # of months Depreciation Expense Ac De Year 2019 $ 85,000 40 % % 6/12 $ 17,000 $ 2020 68,000 40 % 12/12 27,200 2021 40,800 40 % 12/12 16,320 2022 24,480 40 % 12/12 8,160 2023 16,320 40 % 12/12 6,528 Machine 2: Diminishing-balance depreciation Calculation End of Year preciation Rate # of months Depreciation Expense Accumulated Depreciation Carrying Amount 40 % 6/12 $ 17,000 $ ta 17,000 $ 68,000 40 % 12/12 27,200 44,200 40,800 40 % 12/12 16,320 60,520 24,480 40 % 12/12 8,160 69,680 16,320 40 % 12/12 6,528 74,590 10,410