The Prentiss Poster Company purchased a printing machine for $18,000 on April 2, 2000. The company estimated the life and residual value of the machine as four years and $2,000, respectively. The company uses the straight-line depreciation method, and its fiscal year ends December 31.The company sells the machine on March 31, 2004.

Required: Compute the depreciation expense, accumulated depreciation, and book value for each fiscal year over the life of the machine.

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