Olivia is single, 66 years old, and not blind. She paid all the cost of keeping up her home. She earned $55,000 in wages for 2019. Olivia provided all the support for her two grandchildren who lived with her all year. Cora is 11 years old and Jack is 15 years old She does not have enough deductions to itemize. Olivia, Cora, and Jack are all U.S. citizens with valid Social Security numbers. 2. The maximum amount of child tax credit that Olivia is able to claim per qualifying child for 2019 is: P11-1 Depreciation Methods LO I12 Winsey Company purchased equipment on January 2, 2019, for $700,000. The equipment has the following characteristics: SHOW ME HOW Estimated service life 20 years, 100,000 hours, 950,000 units of output $50,000 Estimated residual value During 2019 and 2020, the company used the machine for 4,500 and 5,500 hours, respectively and produced 40,000 and 60,000 units, respectively Required: Compute depreciation expense for 2019 and 2020 under each of the following methods: 1 straight-line method 2. activity method based on hours worked (round the depreciation rate per hour to 2 decimal places) 3. activity method based on units of output (round the depreciation rate per unit to 2 decimal places) 4. sum-of-the-years-digits method 5. double-declining-balance method 6. 150%-declining-balance method 7. Next Level If Winsey used a service life of 16 years, 80,000 hours, or 750,000 units of output, what would be the effect on depreciation expense under the straight-line, sum-of- the-years-digits, and declining-balance depreciation methods? Round your answers to the