Plankton Company purchased a new machine on October 1,2011 , at a cost of $120,000. The company estimated that the machine will have a residual value of $12,000. The machine is expected to be used for QUESTION FOUR - 10 MARKS 10,000 working hours during its 5 -year useful life. Compute the depreciation expense under the following methods for the year (s) indicated. Required: 2 marks 1. Straight-line for 2011 II. Units-of-activity for 2011 , assuming machine usage was 1,700 hours 3 marks III. Declining balance method using double the straight-line rate for 2011 and 2012 5 marks Plankton Company purchased a new machine on October 1,2011 , at a cost of $120,000. The company estimated that the machine will have a residual value of $12,000. The machine is expected to be used for QUESTION FOUR - 10 MARKS 10,000 working hours during its 5 -year useful life. Compute the depreciation expense under the following methods for the year (s) indicated. Required: 2 marks 1. Straight-line for 2011 II. Units-of-activity for 2011 , assuming machine usage was 1,700 hours 3 marks III. Declining balance method using double the straight-line rate for 2011 and 2012 5 marks