Rudolf Company purchased a piece of manufacturing machinery on April 1, 2018 for $300,000. The machinery is expected to have a useful life of 10 years and a $20,000 salvage value at the end of its useful life. Rudolf uses the Double Declining Balance method of depreciation and has a 12/31 fiscal year-end. 1) Prepare the journal entry to record 2018 depreciation for this piece of machinery. (2 points) 2) Prepare the journal entry to record 2019 depreciation for this piece of machinery. (2 points) 3) On September 30, 2020, Rudolf revises the estimated remaining useful life of this piece of machinery to end on December 31, 2024, and the estimated salvage value to $10,000. Calculate the amount of fiscal year 2020 depreciation for this piece of machinery. (2 points) 4) During 2021, an event occurs which might indicate impairment of this piece of machinery (Impairment Step #1). Using the information below related to the machinery on 12/31/21, calculate the impairment amount, if any, on this piece of machinery on that date. Acquisition Cost $300,000 Expected Salvage Value $10,000 Accumulated Depreciation $185,000 Fair Value$110,000 Undiscounted Expected Future Net Cash Flows from the Machinery $100,000 Impairment Step #2: Impairment Step #3