QUESTION 31 Michael's Muffins has a fiscal period ending on December 31. on January 1, 2020, the company purchased equipment for $22.000. It is estimated that the equipment will remain useful for 5 years, or for 50,000 machine hours. After its useful life, it is expected that the equipment will still have a value of $2,000 in 2020, the equipment was used for 12,000 machine hours. Calculate depreciation expense for 2020 using the straight-line method 54.800 $4.400 $4.000 None of the above QUESTION 32 Michael's Muffins has a fiscal period ending on December 31. On January 1, 2020, the company purchased upon for $22.000 it is estimated that the equipment will remain useful for 5 yows, or for 50.000 machine hours. After its useful life, it is expected that the game will still have a value of 2.000 in 2020. the equipment was used for 12.000 machine hours Calculate depreciation expense for 2020 using the double declining balance method 5.300 $8,000 54.400 None of the above