Assume a company purchased Office Furniture for $75,000 at the beginning of 2014. At the time of the purchase, they estimated the useful life of the furniture to be 5 years and the estimated residual (salvage) value was $5,000. During 2017, they realized that they erroneously omitted taking into account the residual value in their calculations for depreciation expense for years prior to 2017. Based on the following information, calculate the amount of Depreciation Expense that the company would disclose on its comparative 2017 income statement (i.e., for all three years). Assume the company uses the straight-line depreciation method. Be sure to show your calculations. Assume a company purchased Machinery for $1,000,000 at the beginning of 2014. At the time of the purchase, they estimated the useful life of the Machinery to be 10 years and the estimated residual (salvage) value was $50,000. At the very beginning of 2017, they revised their estimated useful life, believing that they would only use the Machinery through 2021 (8 years in total), but the residual value at the end of 2021 would still be $50,000. Based on the above information, calculate the amount of Depreciation Expense that the company would disclose on its comparative 2017 income statement (i.e., for all three years). Assume the company uses the straight-line depreciation method. Be sure to show your calculations