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 $56,200 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: 1. Compute depreciation expense, accumulated depredation, and book value for the first 3 years of the machine's life using: a. The straight-iline method. u. Ine doudie-decining-balance method