Q2: On July 1, 2021, Payton Inc. purchased a new piece of equipment for $500,000. The equipment had an expected useful life of four years, and an expected residual value of $100,000. The company expected that in those four years, the machine would produce 40,000 units based on the following schedule: 2021 - 3,000 units 2022-11.000 units 2023-12,000 units 2024 - 10,000 units 2025-4,000 units Required: a) What is the definition of the deprecation based on double-declining method b) Assuming a December 31 fiscal year-end, prepare a depreciation schedule for the life of the asset using Double-declining method