On December 31, 2017 Athletic shoe acquired new inspecting machine. Data is given below

Cost

$600,000

Residual value

$65,000

Useful life

5 Years

Units inspected

95,000 shoes

Year 1: 13,000,

Year 2: 16,000

,Year 3: 23,000

Year 4:18,000,

Year 5: 25,000

Required: Compute the annual depreciation expense for each year using the following methods.

a)Declining balance method?

b) Units of production method?