Problem 6.25 CL03 Identify depreciation methods used Grove Co. acquired a production machine on January 1, 2019, at a cost of $480,000. The machine is expected to have a four-year useful life, with a salvage value of $80,000. The machine is capable of producing 50,000 units of product in its lifetime. Actual production was as follows: 11,000 units in 2019; 16,000 units in 2020; 14,000 units in 2021; 9,000 units in 2022. Following is the comparative balance sheet presentation of the net book value of the production machine at December 31 for each year of the asset's life, using three alternative depreciation methods (items a-c): Production Machine, Net of Accumulated Depreciation At December 31 Depreciation Method? 2022 2021 2020 2019 80,000 152,000 264,000 392,000 80,000 80,000 120,000 240,000 80,000 180,000 280,000 380,000 Required: Identify the depreciation method used for each of the preceding comparative balance sheet presentations (items a-c). If a declining-balance method is used, be sure to indicate the percentage (150% or 200%). (Hint: Read the balance sheet from right to left to determine how much has been depreciated each year. Remember that December 31, 2019, is the end of the first year.)