On January 1, a machine costing $268,000 with a 8-year life and an estimated $20,000 salvage value was purchased. It was also estimated that the machine would produce 1,000,000 units during its life. The actual units produced during its first year of operation were 110,000 and during the second year was 97,000. Determine the amount of depreciation expense for the second year under each of the following assumptions: SHOW ALL YOUR WORK 1. The company uses the straight-line method of depreciation. (7) 2. The company uses the units-of-production method of depreciation. (8) 3. The company uses the double-declining-balance method of depreciation. (10) 4. BONUS (5 points) Show how the asset would be reported on the balance sheet in YR2 including any related accounts under the three methods