Brief Exercise 11-4 Cheyenne Company purchased machinery on January 1, 2017, for $89,600. The machinery is estimated to have a salvage value of $8,960 after a useful life of 8 years. Compute 2017 depreciation expense using the double-declining-balance method. Depreciation expense 24 Compute 2017 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2017. (Round answer to 0 decimal places, e.g. 5,125.) Depreciation expense Open Show Work Click if you would like to Show Work for this