A machine costing $55,625 with a 5-year life and $3,300 residual value was purchased January 2. Compute depreciation for each of the 5 years, using the double-declining- balance method. Year Depreciation Year 1 $ Year 2 $ Year 3 $ Year 4 $ Year 5 $

Year Depreciation Year 1 Year 2 Year 3 Year 4 Years