Pronghorn Corporation purchased machinery on January 1, 2022, at a cost of $276,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $32,600. 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 Depreciable Cost * Depreciation Rate End of Year Accumulated Depreciation Years - Annual Depreciation Expense Book Value 2022 5 243400 608SO 2023 242400 2024 2025 DOUBLE-DECLINING-BALANCE DEPRECIATION Computation End of Year Years Book Value Beginning of Year Depreciation Rate - Annual Depreciation Expense Accumulated Depreciation Book Value 2022 R e 2023 2024 2025 Depreciation expense for 2020 under Double declining balance is adjusted so that ending book value is equal to salvage value. e Textbook and Media