Question 5: A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000) using each of the below-mentioned methods. During the machine's 5-year life its hourly usage was: 3,000; 4,000; 5,000; 5,000; and 3,000 hours. Straight-line Units-of-production Double-declining balance Year 1 Year 2 Year 3 Year 4 Year 5 Totals Question 4: On January 2, 2010, a company purchased a delivery truck for $45,000 cash. The truck had an estimated useful life of seven years and an estimated salvage value of $3,000. The straight-line method of depreciation was used. Prepare the journal entries to record depreciation expense and the disposition of the truck on September 1, 2014, under each of the following assumptions: a. The truck and $45,000 cash were given in exchange for a new delivery truck that had a cash price of $60,000. This transaction has commercial substance. b. The truck and $40,000 cash were exchanged for a new delivery truck that had a cash price of $60,000. This transaction has commercial substance