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Homework 1 Depreciation Calculations Gretchen, Inc., a firm that makes oversized boots, purchased a machine for its factory. The following data relate to the machine: $46,000 $350 $650 May 1, 2017 Price Delivery charges Installation charges Date purchased Estimated useful life: In years. In hours of production Salvage value 10 years 25,000 hours of operating time $2,000 Please prepare the Depreciation Schedule: 1. The straight-line method is used. 2. The Double-declining-balance method