Question 1 (15 Marks) A machine was acquired on January 1, 2020, at a cost of $50,000. The machine was originally estimated to have a residual value of $4,000 and an estimated life of 4 years. The machine is expected to produce a total of 100,000 components during its life, as follows: 15,000 in 2020, 20,000 in 2021, 20,000 in 2022, 30,000 in 2023, and 20,000 in 2024. Instructions Draw a table as shown below and calculate the amount of depreciation to be charged each year, using each of the following methods: 1. Straight-line method 2. Units-of-production 3. Double diminishing-balance YEAR SL UoP DDB 2020 2021 2022 2023 2024