A machine costing $79,375 with a 5-year life and $4,800 residual value was purchased January 2. Compute depreciation for each of the five years, using the double-declining-balance method Year 1 $ 47,625 x Year 2 $ 28,575 x Year 3 $ 17,145 x Year 4 $ 10,287 Year 5 $ 6,172.20