Problem 9-09A Flounder Corporation purchased machinery on January 1, 2022, at a cost of $262,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $31,200. 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 x Depreciation Rate Annual Depreciation Expense Accumulated Depreciation Book Value 2022 0/o 2023 2024 0/o 2025DOUBLE-DECLINING-BALANCE DEPRECIATION Computation End of Year Years Book Value Beginning of Year x Depreciation Rate = Annual Depreciation Expense Accumulated Depreciation Book Value 2022 2023 2024 0/o 2025 1,550* *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? LINK TO TEXT Which method would result in the lower reported 2022 income? In the lowest total reported income over the 4-year period? LINK TO TEXT