On January 1,2017 , a machine was purchased for $120,000. The machine has an estimated salvage value of $6,000 and an estimated useful life of 6 years. Instructions Assume a fiscal year-end of March 31. Compute the annual depreciation charges over the asset's life applying each of the following methods: 1. Sum-of-the-years'-digits method. 2. Double-declining-balance method