Problem 9-9A (Part Level Submission) Flounder Corporation purchased machinery on January 1, 2017, at a cost of $220,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $20,000. The company is considering different depreciation methods that could be used for financial reporting purposes. (a) 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 End of Year Computation Depreciable Cost x Depreciation Rate Years = Annual Depreciation Expense Accumulated Depreciation Book Value 2017 % $ $ 2018 % 2019 % 2020 % DOUBLE-DECLINING-BALANCE DEPRECIATION End of Year Computation Book Value Beginning of Year x Years Depreciation Rate = Annual Depreciation Expense Accumulated Depreciation Book Value 2017 % $ $ 2018 % 2019 % 2020 % 7,500 Depreciation expense for 2020 under Double declining-balance is adjusted so that ending book value is equal to salvage value. Click if you would like to Show Work for this question: Open Show Work