Sheffield Corp. purchased a new machine on October 1, 2022 at a cost of $416,000. The company estimated that the machine has a salvage value of $32,000. The machine is expected to be used for 320,000 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated. Straight-line for 2022 and 2023, assuming a December 31 year-end. (Round answers to O decimal place, eg. 1520) 2022 Straight-line method $ 2023 $ Declining-balance using double the straight-line rate for 2022 and 2023. Declining-balance method 2022 1A $ 2023 $ Units-of-activity for 2022, assuming machine usage was 11.600 hours. (Round depreciation per unit to the nearest cent) Units-of-activity method 2022 Save for Later Attempts: 0 of 2 used Submit Answer