24. On January 2, 2018, Manufacturing, Inc. bought a new machine for its assembly line. It paid $600,000 for the machine. The company estimates the machine has a useful life of ten years and an estimated salvage or residual value of $50,000. Using the straight line method, how much would the company take as depreciation expense for financial reporting purposes in 2018? a. $55,000 b. $60,000 C. $120,000 d. $65,000 25. Using the same information as in Question 24, how much would the company take as depreciation expense for financial reporting purposes in 2018, using the double declining balance method? a. $60,000 b. $110,000 C. $120,000 26. Using the same information as in Question 24, how much should the company take as depreciation expense for financial reporting purposes in 2019, using the double declining balance method? a. $110,000 b. $120,000 C. $96,000