10) Hi-Crest Company purchased a machine on January 1, 2019, for $300,000. The machine has an estimated useful life of 5 years and a $10,000 residual value. Calculate depreciation expense and the year-end book value for 2019 and 2020 using the double declining-balance method of depreciation.

Answer:

Date	Depreciation Expense (for the year)	Book Value (at the end of the year)
12/31/2019
12/31/2020