7 Sketches Inc purchased a machine on January 1, 2016. The cost of the machine was $24,500. Its estimated residual value was $7,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 950 units in 2016 and 1,400 units in 2017 Required: a. Calculate depreciation expense for 2016 and 2017 using the straight-line method. 8 020104 2016 2017 Depreciation Expense Calculate the depreciation expense for 2016 and 2017 using the units-of-production b. method. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.) 2016 2017 Depreciation Expense