17 Apex Fitness Club uses straight-line depreciation for a machine costing $22,150, with an estimated four-year life and a $2,700 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,250 salvage value. Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the machine's book value at the end of its second year. Book Value at the End of Year 2: Cost Accumulated depreciation 2 years Book value at point of revision $ 0 17 Apex Fitness Club uses straight-line depreciation for a machine costing $22,150, with an estimated four-year life and a $2,700 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,250 salvage value. Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount of depreciation for each of the final three years given the revised estimates. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Revised Depreciation (Years 3-5) Book value at point of revision Revised salvage value Remaining depreciable cost Years of life remaining Revised annual depreciation years 3-5 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal