Ivanhoe Company purchased a new machine on October 1, 2022, at a cost of $76,100. The company estimated that the machine has a salvage value of $6,060. The machine is expected to be used for 68,000 working hours during its 10-year life. Compute depreciation using the following methods in the year indicated. (a) Your Answer Correct Answer (Used) Declining-balance using double the straight-line rate for 2022 and 2023. 2022 2023 Depreciation using the Declining balance method $ 3,805.00 $ $ 14,459.00 (b) Calculate the depreciation cost per hour. (Round answer to 2 decimal places, e.g. $1.25) Depreciation cost per hour $ Units-of-activity for 2022, assuming machine usage was 460 hours. (Round answer to 0 decimal places, e.g. 5,275.) Depreciation using the Units-of-activity method for 2022 $ $