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 $57,200 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 3 Depreciation Expense Accumulated Depreciation Book Value b. The double-declining-balance method. End of Year Depreciation Expense Accumulated Depreciation Book Value