Save core: 0 of 6 pts 5 of 8 (1 complete) HW Score: 10%, 2 of 20 pe -7-70A (similar to) Question Help On January 2, 2018. Jumper Company paid $270,000 for a computer system. In addition to the basic purchase price, the company paid a setup fee of $1,800 sales tax of S6,900 and $31,300 for a special platform on which to place the computer Jumpet's management estimates that the computer will remain in service for five years and have a residual value of $35.000 The computer will process 30.000 documents the first year with annual processing decreasing by 2,500 documents during each of the next four years that is 27.500 documents in 2019.25,000 documents in 2020, and so on). For help with deciding which depreciation method to use, the company president has requested a depreciation schedule for each of the three depreciation methods. If rounding is necessary, use two decimal places for the depreciation amount per document Read the requirements Requirement 1. For each of the generally accepted depreciation methods, prepare a depreciation schedule showing asset cost depreciation expense, accumulated depreciation and asset book value Complete the straight line depreciation schedule Bogin by filling out the schedule through 2019, and then complete the schedule by entering the amounts through 2022 (Enter the rate to two decimal places) Straight Line Depreciation Schedule Depreciable Yearly Accumulated Date Cost Rate Cost Exponse Depreciation Book Value January 2, 2018 December 31, 2018 December 31, 2019 Requirements 1. For each of the generally accepted depreciation methods, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciation, and asset book value 2. For financial reporting purposes, Jumper uses the depreciation method that maximizes reported income in the early years of an asset's use. For income tax purposes, the company uses the depreciation method that minimizes income tax payments in those early years. Consider the first year Jumper Co. uses the computer Identify the depreciation methods that meet Jumper's objectives assuming the income tax authorities permit the use of any of the methods. 3. Net cash provided by operations before income tax is $159.000 for the computer's first year. The company's income tax rate is 32%. For the two depreciation methods identified in requirement 2. compare the net income and net cash provided by operations (cash flow) Show which method gives the net income advantage and which method gives the cash flow advantage