2 A machine costing $85,000 with a 5-year life and S5,000 residual value was depreciation expense for each year and book value at the end of each year for each of the five years, using the double declining-balance method. purchased January 2, 2020. Compute REQUIRED For each of the five years compute the depreciation expense and book value at end of year. Write your final answers in the space provided below. (Show caleculations in your booklet) (20 points) Book Value (end of year) Depreciation expense Year 2020 2021 2022 2023 2024 1 of 3