On January 1, 2019, Novak Company, a small machine-tool manufacturer, acquired for $2,800,000 a piece of new industrial equipment. The new equipment had a useful life of 5 years, and the salvage value was estimated to be $91,600. Novak estimates that the new equipment can produce 18,800 machine tools in its first year. It estimates that production will decline by 2.080 units per year over the remaining useful life of the equipment. The following depreciation methods may be used: (1) straight-line (2) double-declining-balance. (3) sum-of-the-years-digits, and (4) units-of-output. For tax purposes, the class life is 7 years. Use the MACRS tables for computing depreciation. 3 year 2009 DB) Recovery Year 1 2 3 44.45 1481" TA MACRS Depreciation Rates by Class of Property 5 year 7-year 10 year 2004 DB) (200% DB) (2004 DB) 20.00 14.29 10.00 32.00 24.49 18.00 19.20 17.49 14:40 11.52 12.49 11.52 11.52 8.93 9.22 5.76 7.37 8.93 6.55 4.46 6.55 6.56 6.55 3.28 15-year (15008) 5.00 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 20 year (150% DB 3.750 7.219 6.677 6.177 5.713 5.285 4.88 4.522 4.462" 4.461 5 8.92 7 8 9 5.99 11 12 13 14 15 16 17 10 19 20 21 5.91 5.90 5.91 2.95 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 Swachove to the depreciation Compute accumulated depreciation under the following methods: (1) straight-line. (2) double-declining-balance. (3) sum-of- the-years-digits, and (4) units-of-output for the 3-year period ending December 31, 2021. Ignore present value income tax. and deferred income tax considerations. (Round cost per unit to 2 decimal places, es. 25.12. Round other intermediate calculations to 6 decimal places, eg. 1.524687 amd final answers to decimal places, eg. 5,125.) Accumulated Depreciation Methods 2019 2020 2021 (1) Straight line 541680 $ 1083360 1625040 (2) Double- declining balance $ 1120000 1792000 = (3) Sum-of- the years' digits $ (4) Units-of- output $ e Textbook and Media Save for Later Attempts: 4 of 5 used Submit