Current Attempt in Progress Blossom Limited purchased a machine on account on April 1, 2021. at an invoice price of $365,470. On April 2. it paid $2,170 for delivery of the machine. A one-year, $4,120 insurance policy on the machine was purchased on April 5. On April 19, Blossom paid $7,580 for installation and testing of the machine. The machine was ready for use on April 30. Blossom estimates the machine's useful life will be five years or 6,118 units with a residual value of $87.910. Assume the machine produces the following numbers of units each year: 893 units in 2021: 1.448 units in 2022: 1.426 units in 2023: 1.222 units in 2024; and 1.129 units in 2025. Blossom has a December 31 year end. (a) Your answer is correct. Determine the cost of the machine. Cost of the machines 375220 e Textbook and Media Attempts: 1 of 3 used ) (b) (1) Straight-line method Year Depreciable Amount Depreciation Expense Accumulated Depreciation Carrying Amou 2021 $ $ $ 2022 2023 2024 2025 2026 (2) Double-diminishing-balance method Year Opening Carrying Amount Depreciation Expense Accumulated Depreciation Carrying Amou 2021 $ $ $ 2022 2023 2024 2025 2026 (3) Units-of-production method IF Units-of-production Depreciation Expense Accumulated Depreciation Carrying Amount 11 893 $ 54768 $ 54768 $ 2 1448 88806 143574 3 1426 87457 231031 1222 74945 305976 5 1129 69242 375218 I Which method causes net income to be lower in the early years of the asset's life? e Textbook and Media Save for Later Attempts: 1 of 3 used Submit