3 Exercise 6-15 (Algo) Depreciation calculation methods LO 6-3 33.34 D Help Save & Exit Sub Check my work Mitico incorporated acquired a machine that cost $480,000 early in 2022. The machine is expected to last for eight years, and its estimated salvage value at the end of its life is $68.000 Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's afe and calculate the accumulated depreciation after the fifth year of the machine's life b. Using declining-balance depreciation at twice the straight-line rate, calculate the depreciation expense for the third year of the machine's life e. What will be the net book value of the machine at the end of its eight year of use before it is disposed of, under each depreciation method? a. Complete this question by entering your answers in the tabs below. Req A to B Reg C Using straight-line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's the and calculate the accumulated depreciation after the fifth year of the machine's ife. b. Using declining-balance depreciation at twice the straight-line rate, calculate the depreciation expense for the third year of the machine's life. a Depreciation expense a Accumulated depreciation t Depreciation expense > Ch. 6 Homework 3 Exercise 6-15 (Algo) Depreciation calculation methods LO 6-3 Help Save & Exit Submil Check my work 33.34 po Spec H Milico Incorporated acquired a machine that cost $480,000 early in 2022. The machine is expected to last for eight years, and its estimated salvage value at the end of its life is $68,000 Required: a. Using straight-line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's life and calculate the accumulated depreciation after the fifth year of the machine's life b. Using declining-balance depreciation at twice the straight-line rate, calculate the depreciation expense for the third year of the machine's life c. What will be the net book value of the machine at the end of its eight year of use before it is disposed of under each depreciation method? Complete this question by entering your answers in the tabs below. P Be A to 6 Reg C What will be the net book value of the machine at the end of its eight year of use before it is disposed of, under each depreciation method? Straight-line depreciation Declining-balance depreciation Not book value < Reto