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3. A machine costing $185,000 with a 5-year life and $20,000 residual value was purchased January. Compute depreciation for each of the five years, using

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3. A machine costing $185,000 with a 5-year life and $20,000 residual value was purchased January. Compute depreciation for each of the five years, using the (a) straight line method and (b) the double-declining-balance method. Answer: Straight line Double-declining-balance Year 1 Year 2 Year 3 Year 4 Year 5

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