Depreciation methods Answer the following questions and solve the problem: 1. How to calculate straight line depreciation step by step? 2. How to calculate unite of production depreciation step by step? 3. How to calculate the declining-balance method also known as the double-declining-balance method step by step? On January 2, 2015 Gillette Co. purchases and installs a new machine costing $300,000 with a five-year life and an estimated $50,000 salvage value. Management estimates the machine will produce 190,000 units of product during its life. Actual production of units is as follows: year 2015 34,000 units; year 201646,000 units; year 2017 56,000 units; year 2018 - 28,000 units; year 2019 26,000 units, etc. Compute depreciation expense, accumulate depreciation, and book value for the first four years using the following depreciation methods: (1) the straight-line method, (2) the units-of-production method, and (3) the declining-balance method also known as the doubledeclining-balance method