You purchased a Computerized Baby Carrot Peeler on Nov-23, 2020 for $550,000. After 7 years it will have a salvage value of $75,500. In order to decide what approach to use, set up a straight line depreciation schedule/table and a double declining balance schedule/table for this asset. a. Compare your findings. b. Which approach do you think makes the most sense for this capital expenditure and why? c. What would your approach be if you know 2020 and 2021 will be high-income years? Asset Purchase Date Salvage Value Cost Useful Life Year 2020 2021 2022 2023 2024 2025 2026 Carrot Peeler January 2, 2019 Depreciation 7 years STRAIGHT LINE SCHEDULE R= Total depreciation to date Book Value