Depreciation Methods On January 2, 2018, Skyler, Inc. purchased a laser cutting machine to be used in the fabrication of a part for one of its key products. The machine cost $120,000, and its estimated useful life was four years or 920,000 cuttings, after which it could be sold for $5,000 Required a. Calculate each year's depreciation expense for the machine's useful life under each of the following depreciation methods (round all answers to the nearest dollar) 1. Straight line 2. Double-declining balance 3. Units-of-production. (Assume annual production in cuttings of 200,000; 350,000, 260,000; and 110,000.) 1. Straight-Line Depreciation Year Expense 2018 $ 28,750 2019 28,750 2020 28,750 2021 28.750 2. Double-declining balance Depreciation Year Expense 2018 S 0 2019 0 2020 0 2021 0 2022 0 seld Munoz Torre 3. Units of Production Depreciation Year Expense 2018 5 0 2019 0 2020 0 2021 0 b. Assume that the machine was purchased on July 1, 2018. Calculate each year's depreciation expense for the machine's useful life under each of the following depreciation methods: 1. Straight-line. 2. Double-declining balante. Year 1. Straight-Line Depreciation Expense 2018 5 0 2019 2020 0 2021 2022 0 OOOO 2. Double declining balance (Round answers to the nearest whole number, when appropriate.) Depreciation Year Expense 2018 5 0 g 2020 2019 2. Double-declining balance (Round answers to the nearest whole number, when appropriate.) Depreciation Year Expense 2018 $ 0 2019 2020 2021 0 0 0 2022 0