Swifty Corporation purchased machinery on January 1, 2017, at a cost of $310,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $38,000. The company is considering different depreciation methods that could be used for financial reporting purposes. Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION Computation Depreciable D epreciation ' Rate = Annual Depreciation Expense Cost End of Year Accumulated Depreciation Book Value Years 2017 2013 End of Year DOUBLE-DECLINING-BALANCE DEPRECIATION Computation Book Value Beginning of * " Depreciation Annual Depreciation Expense Rate Year Years Accumulated Depreciation Book Value 2017 2018 2019 2020 750* Depreciation expense for 2020 under Double declining-balance is adjusted so that ending book value is equal to salvage value