Delton Machine & Dye bought a machine on January 2, 2020, for 5428,500. The machine was expected to remain in service for three years and produce 2.080.000 parts. At the end of its useful life, company officials estimated that, due to technological changes, the machine's residual value would only be $8,500. The machine produced 728,000 parts in the first year, 686,400 in the second year, and 676,000 in the third year Required 1. Prepare a schedule of amortization expense per year for the machine using the straight-line, UOP. and DDB amortization methods. Assume that in all cases the machine is valued at $8.500 at the end of the third year, and the third-year amortization is adjusted (set as a plug) to ensure this happens. 2. Which amortization method results in the highest net income in the second year? Does this higher net income mean the machine was used more efficiently under this method? Which method tracks the wear and tear on the machine most closely? Why? After one year under the DDB method, the company switched to the straight-line method. Prepare a schedule of amortization expense for this situation, showing all calculations. 3 4. Requirement 3. Which method tracks the wear and tear on the machine most closely? Why? The method tracks wear and tear most closely. A v amortization expense will result as the machine is used more. Requirement 4. Assume that after one year under the DDB method, the company switched to the straight-line method. Prepare a schedule of amortization expense for this situation, showing all calculations. Calculate the new straight-line amortization expense for years 2 & 3, and then complete the schedule. (The total for the totals column will not necessarily match the book value of the machine due to rounding.) Year Straight-Line Expense Double-Declining Balance Totals 2020 2021 2022 Totals Enter any number in the edit fields and then continue to the next question. Delton Machine & Dye bought a machine on January 2, 2020, for 5428,500. The machine was expected to remain in service for three years and produce 2.080.000 parts. At the end of its useful life, company officials estimated that, due to technological changes, the machine's residual value would only be $8,500. The machine produced 728,000 parts in the first year, 686,400 in the second year, and 676,000 in the third year Required 1. Prepare a schedule of amortization expense per year for the machine using the straight-line, UOP. and DDB amortization methods. Assume that in all cases the machine is valued at $8.500 at the end of the third year, and the third-year amortization is adjusted (set as a plug) to ensure this happens. 2. Which amortization method results in the highest net income in the second year? Does this higher net income mean the machine was used more efficiently under this method? Which method tracks the wear and tear on the machine most closely? Why? After one year under the DDB method, the company switched to the straight-line method. Prepare a schedule of amortization expense for this situation, showing all calculations. 3 4. Requirement 3. Which method tracks the wear and tear on the machine most closely? Why? The method tracks wear and tear most closely. A v amortization expense will result as the machine is used more. Requirement 4. Assume that after one year under the DDB method, the company switched to the straight-line method. Prepare a schedule of amortization expense for this situation, showing all calculations. Calculate the new straight-line amortization expense for years 2 & 3, and then complete the schedule. (The total for the totals column will not necessarily match the book value of the machine due to rounding.) Year Straight-Line Expense Double-Declining Balance Totals 2020 2021 2022 Totals Enter any number in the edit fields and then continue to the next