Problem 9-9A (Part Level Submission) Swifty Corporation purchased machinery on January 1, 2017, at a cost of $310,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $38,000. The company is considering different depreciation methods that could be used for financial reporting purposes. (a) Your answer is partially correct. Try again. 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 Depreciable Depreciation Cost = Annual Depreciation Expense Rate Years End of Year Accumulated Book Value Depreciation 2017 25 % 272000 68000 68000 0 2018 x 272000 25% 68000 136000 68,000 X 2019 272000 25% 68000 204000 136,000 2020 272000 25 % 68000 272000 204,000 272000