covey company purchases on January

Covey Company purchased a machine on January 1, 2016, by paying cash of $250,000. The machine has an estimated useful life or five years, is expected to produce 500,000 units, and has an estimated residual value of $25,000. Required: Calculate depreciation expense to the nearest whole dollar for each year of the machine's useful life under. Straight-line depreciation method. Double declining-balance method. What is the book value of the machine after three years using the double declining-balance What is the book value of the machinery after three years using the straight-line method? If the machine was used to produce and sell 120,000 units in 2016, what would be the expense using the units-of-production method