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On January 1, 2023, a machine was purchased for $120,000. The machine has an estimated salvage value of $9,600 and an estimated useful life

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On January 1, 2023, a machine was purchased for $120,000. The machine has an estimated salvage value of $9,600 and an estimated useful life of 5 years. The machine can operate for 120,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2023; 24,000 hours; 2024, 30,000 hours; 2025, 18,000 hours; 2026, 36,000 hours: and 2027, 12,000 hours. (a) * Your answer is incorrect. Compute the annual depreciation charges over the machine's life assuming a December 31 year-end for each of the following depreciation methods. (Round rate per hour to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 45,892.) 1 Straight-line Method $ 2. Activity Method

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