A company's property records revealed the following information about its plant assets: Calculate the depreciation expense for each machine in Year 1 and Year 2 for the year ended December 31. Machine 1: Year 1 Year 2 Machine 2: Year 1 Year 2 A company purchased a delivery van on October 1 of the current year at a cost of $40,000. The van is expected to last six years and has a salvage value of $2, 000. The company's annual accounting period ends on December 31. You must show how you calculated these two amounts for