Problem 9-9A Swifty Corporation purchased machinery on January 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 Prepare separate depreciation schedules for the machinery using the straight-ine method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION Computation End of Year Years Deprecdable Cost Depreclation Rate Anual Depreciltion Ex Accumulated Depreciation| Book Value 2017s 2018 2019 2020 DOUBLE INING-BALANCE DEPRECI Computation End of Year Book Value Beginning of Year x Depreciation Rate Annual Depreciation Expense Accumulated Depreciation Book Value Years 2017 2018 2019 2020 7501 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 2017 income? In the highest total reported income aver the 4.year period? Which method would result in the lower reperted 2017 income? In the lowest total reported income over the 4 year period