On January 6, 2020, Plumpton Inc. paid $320,000 for a computer system. In addition to the basic purchase price, the company paid a setup fee of $2,500, $6,400 sales tax, and $21,100 for special installation. Management estimates that the computer will remain in service for five years and have a residual value of $20,000. The computer will process 50,000 documents the first year, decreasing annually by 5,000 during each of the next four years (that is 45,000 documents in 2021, 40,000 documents is 2022, and so on). In trying to decide which depreciation method to use, the company president has requested a depreciation schedule for each of three depreciation methods (straight-line, units-of-production, and double-diminishing-balance). Requirements C Requirement 1. Prepare a depreciation schedule for each of the three depreciation methods listed showing asset cost, depreciation expense, accumulated depreciation, and asset carrying amount. Before completing the straight-line depreciation schedule, calculate the straight-line depreciation rate. First, select the labels for the formula and then compute the rate. (Round the rate to two decimal places.) (SL) Depreciation Rate Complete the Straight-Line Depreciation Schedule. Begin by filling out the schedule through 2021, and then complete the schedule by entering the amounts through 2024. (Enter the rate to two decimal places. Round all other amounts to the nearest whole dollar.) Straight-Line Depreciation Schedule Date January 6, 2020 December 31, 2020 December 31, 2021 December 31, 2022 December 31, 2023 Depreciation for the Year Asset Asset Cost Cost Depreciation Depreciable Depreciation Accumulated Rate Expense Depreciation Carrying Amount December 31, 2024 Before completing the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the labels for the formula and then compute the rate. (Round the unit rate to the nearest cent.) Depreciation per unit of output Complete the Units-of-Production Depreciation Schedule. Begin by filling out the schedule through 2021, and then complete the schedule by entering the amounts through 2024. (Enter depreciation per unit to the nearest cent. Round all other amounts to the nearest whole dollar.) Units-of-Production Depreciation Schedule Date January 6, 2020 December 31, 2020 December 31, 2021 December 31, 2022 December 31, 2023 Depreciation for the Year Asset Cost Depreciation Per Unit Number of Depreciation Accumulated Units Expense Depreciation Asset Carrying Amount December 31, 2024 Before completing the double-diminishing-balance schedule, calculate the double-diminishing-balance rate. Select the labels for the formula and then compute the rate. (Round the rate to two decimal places.) x DDB rate Complete the Double-Diminishing-Balance Depreciation Schedule. Begin by filling out the schedule through 2021, and then complete the schedule by entering the amounts through 2024. (Enter the rate to two decimal places. Round all other amounts to the nearest whole dollar.) Double-Diminishing-Balance (DDB) Depreciation Schedule Date January 6, 2020 December 31, 2020 December 31, 2021 December 31, 2022 December 31, 2023 December 31, 2024 Depreciation for the Year Asset Asset Asset DDB Cost Rate Amount Carrying Depreciation Accumulated Carrying Expense Depreciation Amount