On July 1, 20x4, Verbena Company purchased, for $1,500,000, snow making equipment having an estimated useful life of 6 years with an estimated salvage value of $60,000. Depreciation is taken for the portion of the year the asset is used. Calculate the depreciation on the machine for years 20X4, 20X5, and 20X6, using the following depreciation methods. Round all calculations to the nearest whole dollar. (a) Straight line. (b) 150% declining balance. (c) Sum-of-the-years'-digits (d) MACRS (the asset has a five year class life). Assume the company had used straight line depreciation during 20X through 20X6. During 20X7, the company determined that the equipment would be useful to the company for only one more year beyond 20X7 Salvage value is estimated at $80,000. Compute the amount of depreciation expense for the 20X7 income statement. REQUIRED: (1) (2)