On January 1, 2019, Oriole Company, a small machine-tool manufacturer, acquired for $2,450,000 a piece of new industrial equipment. The new equipment had a useful life of 5 years, and the salvage value was estimated to be $84,800. Oriole estimates that the new equipment can produce 16,000 machine tools in its first year. It estimates that production will decline by 1,430 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. Compute accumulated depreciation under the following methods: (1) straight-line, (2) double-declining-balance, (3) sum-ofthe-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, eg. 25.12. Round other intermediate calculations to 6 decimal places, eg. 1.524687 amd final answers to 0 decimal places, eg. 5,125.) eTextbook and Media Which depreciation method would maximize net income for financial statement reporting for the 3-year period ending December 31, 2021? The depreciation method would maximize net income. Compute accumulated depreciation by using MACRS and optional straight-line method for the 3-year period ending December 31, 2021. Ignore present value considerations. eTextbook and Media Which depreciation method would minimize net income for income tax reporting for the 3-year period ending December 31 , 2021? The depreciation method would minimize net income. eTextbook and Media