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Pedro Company has $157,000 of machinery being depreciated over 5 years. There is...

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Accounting

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Pedro Company has $157,000 of machinery being depreciated over 5 years. There is no estimable residual value after that. After taking 2 years depreciation, Pedro realizes the equipment is clearly going to last another 4 years and the estimated residual value remains unchanged. Required 1: What depreciation expense will Pedro record in year 2 when using the straight line method? \$ Required 2: What depreciation expense will Pedro record in year 3 when using the straight line method? \$ Required 3: What depreciation expense will Pedro record in year 2 when using the declining balance method? \$ Required 4: What depreciation expense will Pedro record in year 3 when using the declining balance method? \$ Required 5: What depreciation expense will Pedro record in year 2 when using the double declining balance method? \$ Required 6: What depreciation expense will Pedro record in year 3 when using the double declining balance method? \$

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