Problem \#3 - Amortization of Assets (Unit 2) Stojko company purchased a new machine on January 1,2021 , at a cost of $89,000. The company estimated that the machine will have a residual value of $12,000. The machine is expected to be used for 10,000 working hours during its six-year life. Stojko Company uses a calendar year end. Instructions: Calculate the amortization expense under the following methods for each of the years ended December 31,2021 and 2022: a) straight-line; b) units of activity, assuming machine usage was 1,700 hours for 2021 and 1,500 hours for 2022 , and c) double-declining balance rate. Make sure you show your calculations