Depreciation Calculations Gretchen, Inc., a firm that makes oversized boots, purchased a machine for its factory. The following data relate to the machine: Price $46,000 $350 $650 Delivery charges Installation charges Date purchased Estimated useful life: May 1, 2017 In years In hours of production 10 years 25,000 hours of operating time $2,000 Salvage value During 2017, the machine was used 1,800 hours. During 2018, the machine was used 3,000 hours. Required: 1. Determine the depreciation expense and the year-end carrying amount for the machine for the years 2017 and 2018, assuming that the straight-line method is used. 2017 2018 Depreciation Expense $ Carrying Amount 2. Determine the depreciation expense and the year-end carrying amount for the machine for the years 2017 and 2018, assuming that the units-of-production method is used. 2017 2018 Depreciation Expense $ Carrying Amount