Baseball Company purchased a new pitching machine at a cost of $18,000 at the beginning of January 2003. The machine was estimated to have a salvage value of $2,000 at the end of its useful life of 4 years. A machine like this is supposed to deliver 160,000 hours of pitching practice. The actual numbers of hours that the machine was used per year were 2003 – 40,000 hours; 2004 – 60,000 hours; 2005 – 35,000 hours; and 2006 – 25,000 hours. Required: Prepare a depreciation schedule using the 1. straight-line method. 2. activity method. 3. double-declining method. For each, make a chart that shows the depreciation expense for each year, as well as the book value of the asset at the end of the year.