Question 2 (30 minutes) A machine which cost $100,000 is acquired on April 30, 2020. The estimated residual value is $40,000 and expected useful life is 5 years. The company records depreciation to the nearest month. Required: Calculate the depreciation expense using each of the following methods and periods: a) Straight-line for 2020 and 2021, assuming the fiscal year end is December 31. b) Double declining-balance for the fiscal year ends in 2020, 2021, 2022, and 2023 assuming the company's year end is May 1. (Don't mess up' because of dates.) c) Assume that the company purchased the asset on January 1, 2020. It uses the straight-line method, and at the beginning of 2021, changed the useful life to 6 years (from the original purchase date estimate of 5 years). Calculate depreciation for 2021 assuming a Dec. 31 year end