17-19. Jim Company bought a machine for $36,000 with an estimated life of 5 years. The residual value of the machine of the truck is $6,000. Calculate (a) the annual depreciation and (b) the book value at the end of year 3. Assume straight-line depreciation

Problem 17-19: Calculate annual depreciation and book value at the end of year 3.

a) Cost____ - Residual Value ______ / ______ = Annual Depreciation Expense_____

b) Cost____ - (Annual Depreciation Expense_____* # Years Depreciated)______ = Book Value at End of Year 3 $ ____ -