(B) Khoo Limited purchased a machine for $640,000 on 1 January 2017 with an estimated residual value of $20,000. It depreciated the machine using the double-declining-balance method. The machine was estimated to have an useful life of 5 years. Required: (a) Compute the depreciation expense for the machine for the year ended 31 December 2017 and 2018 (4 marks) (b) Prepare the statement of financial position to show the net book value of the machine as at 31 December 2017 and 2018