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 $52,400 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. End of Year 1 2 Depreciation Expense Accumulated Depreciation. Book Value b. The double-declining-balance method. End of Year 1 2 Depreciation Expense Accumulated Depreciation Book Value 2. Which method would produce the largest income in the first, second, and third years of the asset's life? Year Method 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. End of Year 1 2 3 Depreciation Expense Accumulated Depreciation Book Value b. The double-declining-balance method. End of Year 1 2 3 0000 Depreciation Expense Accumulated Depreciation Book Value 2. Which method would produce the largest income in the first, second, and third years of the asset's life? First year Year Second year Third year Method