Oriole Company purchased Machine #201 on May 1, 2020. The following information relating to Machine #201 was gathered at the end of May. Price Credit terms Freight-in Preparation and installation costs Labor costs during regular production operations $119,000 2/10,n/30 $1,120 $5,320 $14,700 It is expected that the machine could be used for 10 years, after which the salvage value would be zero. Oriole intends to use the machine for only 8 years, however, after which it expects to be able to sell it for $2,100. The invoice for Machine #201 was paid May 5, 2020. Oriole uses the calendar year as the basis for the preparation of financial statements. - Your answer is partially correct. Compute the depreciation expense for the years indicated using the following methods. Depreciation Expense (1) Straight-line method for 2020 $ 10080 (2) Sum-of-the-years'-digits method for 2021 $ 25067.78 (3) Double-declining-balance method for 2020 $ 20510 e Textbook and Media x Your answer is incorrect. Suppose Sharon Lee, the president of Oriole, tells you that because the company is a new organization, she expects it will be several years before production and sales reach optimum levels. She asks you to recommend a depreciation method that will allocate less of the company's depreciation expense to the early years and more to later years of the assets' lives. What method would you recommend? Straight-line Method e Textbook and Media