3. (20 points) Jensen Company purchased a new machine on January 1, 2017, at a cost of $104,000. The company estimated that the machine has a salvage value of $8,000. Instructions Compute depreciation using the following methods in the year indicated. (a) Straight-line for 2017 and 2018, assuming a December 31 year-end b) Declining-balance using double the straight-ine rate for 2017 and 2018. 3. (20 points) Jensen Company purchased a new machine on January 1, 2017, at a cost of $104,000. The company estimated that the machine has a salvage value of $8,000. Instructions Compute depreciation using the following methods in the year indicated. (a) Straight-line for 2017 and 2018, assuming a December 31 year-end b) Declining-balance using double the straight-ine rate for 2017 and 2018