Cosby Company purchased a truck that cost $36,000. The company expected to drive the truck 100,000 miles. The truck had estimated salvage value of $2,000. If the truck is driven 46,000 miles in the current accounting period, Calculate the amounts should be recognized as depreciation expense Redstorm Company purchased a new machine on January 1, 20X1, at a cost of $150,000. The machine is expected to have an eight-year life and a $15,000 salvage value. The machine is expected to produce 675,000 finished products during its eight-year life. Production during 20X1 was 70,000 units and during 20X2 110,000 units Required: Determine the amount of depreciation expense to be recorded on the machine for the years 20X1 and 20X2 under each of the following methods: 20X1 20X2 Straight-line ______ ________ Units of production method _________ _________ Double-declining-balance ________ ________