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Torge Company bought a machine for $74,000 cash. The estimated useful life was five years and...

Torge Company bought a machine for $74,000 cash. The estimated useful life was five years and the estimated residual value was $8,000. Assume that the estimated useful life in productive units is 207,000. Units actually produced were 55,200 in year 1 and 62,100 in year 2. Required: Determine the appropriate amounts to complete the following schedule. (Do not round intermediate calculations.) 2-a. Which method would result in the lowest net income for year 1? multiple choice 1 Double-declining-balance Units-of-production Straight-line 2-b. Which method would result in the lowest net income for year 2? multiple choice 2 Double-declining-balance Straight-line Units-of-production Which method would result in the lowest fixed asset turnover ratio for year 1? multiple choice 3 Double-declining-balance Straight-line Units-of-production

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