Show Attempt History Current Attempt in Progress Sheridan Limited purchased a machine on account on April 1, 2021, at an invoice price of $374 390. On April 2. it paid $1.940 for delivery of the machine. A one-year $3,750 insurance policy on the machine was purchased on April 5. On April 19, Sheridan pald $8,320 for installation and testing of the machine. The machine was ready for use on April 30. Sheridan estimates the machine's useful life will be five years or 6.256 units with residual value 574.750. Assume the machine produces the following numbers of units each year: 985 units in 2021: 1546 units in 2022. 1.260 units in 2023:1352 units in 2024 and 1,085 units in 2025. Sheridan has a December 31 year end. (5) Your Answer Correct Answer Your answer is correct Determine the cost of the machine O F11 Ver DAN $ 96 % 5 & 7 Y r 6 7 8 A 9 9 0 - R T Y U O P. Ne [+ F GY HIJ J L . s (b) Calculate the annual depreciation and total depreciation over the asset's life using: (Round the depreciation cost per unit to 2 decimal places. Round answers to decimal places, e.g. 5,275.) (1) Straight-line method Year Depreciable Amount Depreciation Expense Accumulated Depreciation Carrying Amour 2021 5 $ $ 2022 2023 2024 2025 2026 12. Double-diminishing balanssthed search 0 d) ENG FP insett SER De