Depreciation Methods Gruman Company purchased a machine for $220,000 on January 2, 2016. It made the...

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Depreciation Methods Gruman Company purchased a machine for $220,000 on January 2, 2016. It made the following estimates: Service life Production Residual value 5 years or 10,000 hours 200,000 units $20,000 In 2016, Gruman uses the machine for 1,800 hours and produces 44,000 units. In 2017, Gruman uses the machine for 1,500 hours and produces 35,000 units. If required, round your final answers to the nearest dollar. 3. If Gruman used a service life of 8 years or 15,000 hours and a residual value of $10,000, what would be the effect on the following under the straight-line, sum-of-the-years'-digits, and double-declining-balance depreciation methods? Depreciation expense a. Straight-line method 2016 $ 2017 $ b. Sum-of-the-years'-digits method 2016 $ 2017 $ c. Double-declining-balance method 2016 $ 2017 $ Book value a. Straight-line method 2016 $ 2017 $ b. Sum-of-the-years'-digits method 2016 $ 2017 $ c. Double-declining-balance method 2016 $ 2017 $ Depreciation Methods Gruman Company purchased a machine for $220,000 on January 2, 2016. It made the following estimates: Service life Production Residual value 5 years or 10,000 hours 200,000 units $20,000 In 2016, Gruman uses the machine for 1,800 hours and produces 44,000 units. In 2017, Gruman uses the machine for 1,500 hours and produces 35,000 units. If required, round your final answers to the nearest dollar. 3. If Gruman used a service life of 8 years or 15,000 hours and a residual value of $10,000, what would be the effect on the following under the straight-line, sum-of-the-years'-digits, and double-declining-balance depreciation methods? Depreciation expense a. Straight-line method 2016 $ 2017 $ b. Sum-of-the-years'-digits method 2016 $ 2017 $ c. Double-declining-balance method 2016 $ 2017 $ Book value a. Straight-line method 2016 $ 2017 $ b. Sum-of-the-years'-digits method 2016 $ 2017 $ c. Double-declining-balance method 2016 $ 2017 $