Problem $8-30$A $($Static$)$ Calculating depreciation expense using four different methods LO $8-2,8-3,8-4,8-6$

Banko Incorporated manufactures sporting goods. The following information applies to a machine purchased on January $1,$ Year $1.$

Purchase price $$70,000$

Delivery cost $$3,000$

Installation charge $$1,000$

Estimated life $5$ years

Estimated units $140,000$

Salvage estimate $$4,000$

During Year $1,$ the machine produced $36,000$ units, and during Year $2$ it produced $38,000$ units.

Required

Determine the amount of depreciation expense for Year $1$ and Year $2$ using straight$-$line method.

Determine the amount of depreciation expense for Year $1$ and Year $2$ using double$-$declining$-$balance method.

Determine the amount of depreciation expense for Year $1$ and Year $2$ using units of production method.

Determine the amount of depreciation expense for Year $1$ and Year $2$ using MACRS, assuming that the machine is classified as seven$-$year property. $($Round your answers to the nearest dollar amount.$)$

MACRS table:

Year $5-$Year property,$\%7-$Year property,$\%$

$120\mathrm{.}0014\mathrm{.}29$

$232\mathrm{.}0024\mathrm{.}49$

$319\mathrm{.}2017\mathrm{.}49$

$411\mathrm{.}5212\mathrm{.}49$

$511\mathrm{.}528\mathrm{.}93$

$65\mathrm{.}768\mathrm{.}92$

$78\mathrm{.}93$

$84\mathrm{.}46$