Problem: (Depreciation-SL, DDB, SYD, Act., and MACRS) On January 1st, 2016, Marco Company, a medium-sized manufacturer, acquired the following assets MACRS Class Salvage Useful Cost Units of Production Value Asset#1: $1,500,000 *Total units of output 160,000 $100,000 2016 2017 2018 38,000 36,000 Asset #2:$ 600,000 $ 40,000 2016 2017 2018 25,000 20,000 18,000 7*Total units of output 100,000 Asset#3:$ 850,000 $ 10 2016 2017 2018 85,000 80,000 70,000 10 *Total units of output 500,000 The following depreciation methods may be used: (1) straight-line; (2) double-declining-balance; (3) sum-of-the-years'-digits, and (4) units-of-output. For tax purposes, use the (5) MACRS tables for computing depreciation. InstructioAS Round to whole dollars for all solutions. (a) Calculate the annual depreciation for each of the three assets for each of the five depreciation methods described above. Provide the depreciation expense for years 2016, 2017, and 2018 To complete this, utilize Excel worksheets and tools to create a table that is easy to read, use formulas where appropriate, and label the annual depreciation for each year. Make sure all components are included such as depreciable cost, etc. (b) Calculate the annual depreciation for each of the three assets for each of the five depreciation methods, assuming they were all purchased June 1st, 2016. Provide the depreciation expense for years 2016,2017,2018 (C) (1) Which depreciation method would maximize net income for financial statement reporting for the 3-year period ending December 31, 2018 (2) Which depreciation method would minimize net income for financial statement reporting for the 3-year period ending December 31, 2018 (Remember that MACRS is not an acceptable method under GAAP)