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Please help solve and show all work. 1. (12 points) A machine cost $800,000 on April 1, 2014. Its estimated salvage value is $80,000 and
Please help solve and show all work.
1. (12 points) A machine cost $800,000 on April 1, 2014. Its estimated salvage value is $80,000 and its expected life is eight years. Calculate the depreciation expense (to the nearest dollar) by each of the following methods, showing the figures used (Keep in mind of how to calculate the depreciation expense for partial year: where you need to count the months). (a) Straight-line for 2014 (b) Double-declining balance for 2015 (Note: you need to redo 2014 depreciation using double-declining balance method) (c) Sum-of-the-years'-digits for 2015 (Note: you use sum-of-the-years' digits depreciation method for 2014) DO
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