Use the following for questions #1 through #7: Max Company purchased a machine on January 1, paying cash of $270,000. The machine has an estimated useful life of five years (or the production of 60,000 units) and an estimated residual value of $30,000. #1 What is depreciation expense for year four using the straight-line method? Select one: a. $54,000 b. $192,000 C. $78,000 d. $48,000 e. $60,000 2 What is accumulated depreciation on the machinery after two years using straight-line depreciation? Select one: a. $96,000 b. $108,000 C. $54,000 d. $48,000 e. $120,000 3 What is the book value of the machine after three years using straight line depreciation? Select one: a. $240,000 b. $222,000 c. $174,000 d. $78,000 e. $126,000 4 What is depreciation expense for year five using the declining-balance method and a 200% acceleration rate? Select one: a. $240,000 b. $13,997 c. $30,000 d. $4,992 e. $23,328 5 What is accumulated depreciation on the machinery after three years using the declining- balance method and a 200% acceleration rate? Select one: a. $172,800 b. $235,008 c. $240,000 d. $211,680 e. $108,000 6 If the machine was used to produce and sell 17,000 units in year two, what would depreciation expense be under the units of production method? Select one: a. $76,500 b. $232,000 c. $68,000 d. $93,500 e. $202,000 7 What is the book value of the machine after three years using the sum of the year's digits method? Select one: a. $78,000 b. $48,000 c. $68,000 d. $96,000 e. $54,000