Problem 8-5: The Volga Corporation On January 1, 2018 the Volga Corporation purchased a new machine for $5400 cash. The machine has an estimated useful life of 5 years and a salvage value of $540. The following data are also available Estimated Unit Output over Life of Equipment 50000 Unit Production in 2018 Unit Production in 2019 Unit Production in 2020 and following years6667 20000 10000 Required Prepare journal entries to record depreciation expense (rounding all amounts to the nearest S) for each December year end for the Array year life of the machine using 1. Straight Line Depreciation 2. Double Declining Balance Depreciation 3. Units of Production 4. Compute the net book value at the end of 2022 using straight line depreciation 5. Compute the net book value at the end of 2022 using double declining balance depreciation 6. Compute the net book value at the end of 2022 using units of production depreciation Upon completion, enter the following data here Deprec 2018 Exp Method 2019 Exp Book Value End 2022 Straight Line Double Dec. Bal Production Units