Sheffield Corporation purchased machinery on January 1, 2025, at a cost of $284,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $33,400. The company is considering different depreciation methods that could be used for financial reporting purposes. (a) Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. DOUBLE-DECLINING-BALANCE DEPRECIATION Computation Years2025B$ Year Depreciation Rate = Annual Depreciation Expense. Accumulatec 2026 2027 2028 DOUBLE-DECLINING-BALANCE DEPRECIATION End of Year . Book Value % % %