Depreciation Problem: (8pts) ---- Please complete using Excel or by hand.

A machine was purchased for $92,000 and had a depreciable life of five years and a depreciable salvage value of $5,000. Using the following depreciation methods; Straight Line, Sum-OfYears Digits, Double Declining Balance, and MACRS(with a 5 year property class): a. Create a depreciation schedule The owner has been offered to sell the machine in year 2 for $50,000. b. Calculate if the company will see a gain or loss and how much it will be for each depreciation method