Choice Among Depreciation Methods Walnut Ridge Production Inc. purchased a new computerized video-editing machine at a cost of $450,000, The system has a residual value of $64,000 and an expected life of 5 years. 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 mernoa. b. The double-declining-balance method. 2. Which method would produce the largest income in the first, second, and third years of the asset's life