Union Company acquired machinery on January 2,201, for $315,000. The machinery's estimated useful life is 10 years, and the estimated residual value is $15,000. Union estimates that the machine will produce 15,000 units of product and that 20,000 direct labor hours will be utilized over the useful life of the machine. During 201, Union produced 1,200 units of product and used 2,100 direct labor hours. Required: Calculate depreciation expense for 201 under each of the following methods: 1. Straight-line method. 2. Production method (units of output). 3. Use method (units of input-direct labor hours). 4. Sum-of-the-years' digits method. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 5. Double-declining balance method. Four years ago Omega Technology, Inc., acquired a machine to use in its computer chip manufacturing operations at a cost of $35,000,000. The firm expected the machine to have a seven-year useful life and a zero salvage value. The company has been using straight-line depreciation for the asset. Due to the rapid rate of technological change in the industry, at the end of Year 4, Omega estimates that the machine is capable of generating (undiscounted) future cash flows of $11,000,000. Based on the quoted market prices of similar assets, Omega estimates the machine to have a fair value of $9,500,000. Required: 1. What is the machine's book value at the end of Year 4 ? 2. Should Omega recognize an impairment of this asset? If so, what amount of the impairment loss should be recognized? 3. At the end of Year 4, at what amount should the machine appear in Omega's balance sheet