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 $53,100 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 b. The double-declining-balance method. Depreciation Expense End of Year 1 2 3 Depreciation Expense Year Accumulated Depreciation Method Accumulated Depreciation Book Value 2. Which method would produce the largest income in the first, second, and third years of the asset's life? Book Value

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 $53,100 and an expected ufe 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 method