PART B Elxbigh Ltd's financial year ends on June 30. Elybigh Ltd purchased a new machine on April 1, 2020, at the cost of $456,000. The residual value is estimated at $56,000. The machine is expected to be used for 40,000 working hours during its 10-year life. The depreciaton rate for diminishing-balance method is double the rate of straight-line method. In the financial year 2020, the machine usage was 1,500 hours. Required: Calculate the depreciation expense using the following methods: 1) ii) diminishing balance method for both financial years 2020 and 2021. units-of-production method for the financial year 2020