Depreciation Methods: Straight$-$line, Activity, and Double Declining Balance $$ May Corporation purchased a new machine for production on $1/1/22.$ The cost of the machine was $$200,000.$ The salvage value was estimated to be $$50,000.$ Its useful life was estimated to be $5$ years and its working hours was estimated at $25,000$ hours. The hours used $2022$ thru $2026$ were $5,750,5,000,4,250,5,500,4,500,$ respectively. Year$-$end is December $31$st$.$ Fully depreciate the equipment over the full $5$ years. $$ Instructions: Compute the depreciation expense under each of the following methods below. Record the journal entry for each year to record the depreciation expense. Double$-$Declining Balance method remembering the salvage value