Question 7 of 7 < View Policies Show Attempt History Current Attempt in Progress > 2.78/5 In recent years, Oriole Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine 1 Acquired Jan. 1, 2020 Cost Salvage Value Useful Life (in years) Depreciation Method $95,300 $13,500 8 Straight-line 2 July 1, 2021 87,500 11,000 5 Declining-balance 3 Nov. 1, 2021 94,500 8,500 6 Units-of-activity For the declining-balance method, Oriole Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 43,000. Actual hours of use in the first 3 years were 2021,500; 2022, 4,700; and 2023,7,800. (a1) Your answer is correct.