On January 1 of the current year, Schulte Manufacturing Company purchased a metal cutting and polishing machine at a cost of $3,900,000. The installation and delivery costs amounted to $300,000. The firm expects the machine to be productive for a total of 5 years and a residual value of $350,000 at the end of the asset's useful life. Read the requirements Requirements Requirement 1. Prepare the depreciation schedules for the machine assuming that Schulte Manufacturing uses the straight-line method. End-of-Year End-of-Year Depreciation Original Accumulated Net Book Value Year Expense Cost Depreciation (NBV) Prepare the depreciation schedules for the machine assuming that the following methods were used (each case is independent) 1. Straight-line method 2. Double-declining balance method (DDB). (Reduce the depreciation expense in the last year to the necessary amount to arrive at an ending book value equal to the scrap value.) 1 2 3 4 Print Done 5 Total Requirement 2. Prepare the depreciation schedules for the machine assuming that Schulte Manufacturing uses the double-declining balance method (DDB). (Reduce the depreciation expense in the last year to the necessary amount to arrive at an ending book value equal to the scrap value.) End-of-Year End-of-Year Beginning Net Book Value DDB Accumulated Net Book Value Depreciation Expense Year (NBV) % Depreciation (NBV) 1 % 2 % 3 %