Tower Industries purchased machinery on January 5, 2018 at a total cost of $85,000. The company estimates useful life of the machinery to be 5 years or 50,000 hours. The residual value is estimated to be S5,000. The company expects the machine to run 9,000 hours the first year, 12,000 the second, 13,000 the third, 6,200 the fourth and the remainder in year 5. Required: Prepare a depreciation schedule using each of the following depreciation methods. Straight Line Units of Production Double Declining Balance