Problem 9-09A Fint Corporation purchased machinery on January 1, 2022, at a cost of $290,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $34,000. The company is considering different depreciation methods that could be used for financial reporting purposes. Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION Computation End of Year Years Depreciable Cost * Depreciation Rate - Annual Depreciation Expense Accumulated Book Value Depreciation 2022 2023 2024 2025 DOUBLE-DECLINING-BALANCE DEPRECIATION Computation End of Year Book Value Beginning of Year * Depreciation Rate - Annual Depreciation Expense Accumulated Depreciation Years Book Value 2022 2023 2024 2025 2,250 - $ Depreciation expense for 2020 under Double declining balance is adjusted so that ending book value is equal to salvage value MacBook Pro Q DOUBLE-DECLINING-BALANCE DEPRECIATION Computation End of Year mars Book Value Beginning of Year x Depreciation Rate - Annual Depreciation Expense Accumulated Depreciation 022 023 % 2024 % 2025 2,250 Depreciation expense for 2020 under Double declining balance is adjusted so that ending book value is equal to salvage value Which method would result in the higher reported 2022 income? In the highest total reported income over the 4-year period? Which method would result in the lower reported 2022 income in the lowest total reported income over the 4-year period? Click if you would like to show Work for this question: Open Show Work Question MacBook Pro Q 9 2 wa $ 4 5 6 & 7 00 9 0 W E R T Y U 0 S D F G I J K