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Ivanhoe Ltd. purchased a new machine on April 4,2020 , at a cost of $188,000. The company estimated that the machine would have a residual

image text in transcribedimage text in transcribed Ivanhoe Ltd. purchased a new machine on April 4,2020 , at a cost of $188,000. The company estimated that the machine would have a residual value of $18,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,400 hours in 2020; 2,100 hours in 2021; 2,300 hours in 2022; 2,300 hours in 2023; and 1,900 hours in 2024. Ivanhoe has a December 31 year end. (a) Your answer is partially correct. Calculate depreciation for the machine under each of the following methods: (Round expense per unit to 2 decimal places, e.g. 2.75 and final answers to 0 decimal places, e.g. 5,275.) (1) Straight-line for 2020 through to 2024. \begin{tabular}{ll} 2020 expense & $ \\ 2021 expense & $ \\ 2022 expense $ & \\ 2023 expense $ & $ \\ 2024 expense $ \end{tabular} (2) Diminishing-balance using double the straight-line rate for 2020 through to 2024. \begin{tabular}{ll} 2020 expense & $ \\ 2021 expense & $ \\ 2022 expense & $ \\ 2023 expense & $ \end{tabular} (3) Units-of-production for 2020 through to 2024. 2020 expense $ 2021 expense $ 2022 expense $ 2023 expense $ 2024 expense $

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