Choice Among Depresciation 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 $56,300 and an expected Ife of 5 years. Recuired: 1. Compute depreciation expense, accumulated depreciation, and book value for the first 3 years of the machine's tife using: a. The straight-line method. 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? Feodback 2 more Check My Work uses remaining