Monty Corporation purchased machinery on January 1, 2022, at a cost of $270,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $32,000. The company is considering different depreciation methods that could be used for financial reporting purposes. Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION End of Year Computation Depreciable Cost X Depreciation Rate Years - Annual Depreciation Expense Accumulated Depreciation Book Value 2022 270,000 59.500 % 59.500 59.500 210.500 2023 210.500 59.500 119,000 119.000 151000 151,000 59.500 178.500 178.500 91.500 2024 2025 91.000 59.500 238.000 32.000 238.000 DOUBLE-DECLINING-BALANCE DEPRECIATION Computation End of Year Years Book Value Beginning of Year x Depreciation Rate = Annual Depreciation Expense Accumulated Depreciation Book Value 2022 $ 2023 2024 2025 1.750 Activate Windows Go to Settings to activate Windows. Depreciation expense for 2020 under Double declining-balance is adjusted so that ending book value is equal to salvage value. eTextbook and Media Assistance Used e Textbook Which method would result in the higher reported 2022 income? In the highest total reported income over the 4-year period? eTextbook and Media Which method would result in the lower reported 2022 income? In the lowest total reported income over the 4-year period? eTextbook and Media