Computing Depreciation and Accounting for a change of Estimate Lambert Company acquired machinery costing $130,000 on January 2, 2016. At that time, Lambert estimated that the useful life of the equipment was 6 years and that the residual value would be $15,000 at the end of its useful life. Compute depreciation expense for this asset for 2016, 2017 and 2018 using the: a. straight-line method. Round to the nearest dollar. 19,166 x 19,166 x 19,166 x 2016 $ 2017 $ 2018 $ b. double-declining-balance method. Round to the nearest dollar. 2016 $ 2017 5 43,329 x 28,887 X 19,259 2018 $ C. Assume that on January 2, 2018, Lambert revised its estimate of the useful life to 7 years and changed its estimate of the residual value to $10,000. What would be the new depreciation expense in 2018 for each of the above depreciation methods? Round to the nearest dollar. Straight-line Double-declining-balance $ $ 16,333 23,113 X