Chapter 10 Exercise On September 1, 20Y1, Luxly Corporation acquires a machine at an initial cost of $90,000. The useful life of the machine is estimated to be 5 years. At the end of its useful life the machine is expected to have a residual value of $10,000. Luxly's fiscal year ends on December 31st. Luxly depreciates its machines using the double-declining-balance method. Required (MUST SHOW WORK, NOT JUST ANSWERS) Calculate depreciation expense for the fiscal years 20Y1 through 20Y3