Choice Among Depreciation Methods Walnut Ridge Production inc. purchased a new computerized video-editing machine at a cost of $370,000. The system has a residual value of $55,000 and an expected life of 5 vears. Required: 1. Compute depreciation expense, accumulated depreciation, and book value for the first 3 years of the machine's life using: a. The straight-line method. b. The double-declining-balance metnod