Depreciation Methods Lord Company purchased a machine on January 2, 2016, for $70,000. The machine had an expected residual value of $10,000, an expected life of 8 years or 24,000 hours, and a capacity to produce 100,000 units. During 2016, Lord produced 12,000 units in 2,500 hours. In 2017, Lord produced 15,000 units in 3,000 hours.

e. Prepare a schedule showing depreciation expense for 2016 and 2017 and the book value of the asset at the end of 2016 and 2017 for double-declining-balance methods. Round your answers to the nearest dollar.

LORD COMPANY Depreciation Schedule Double-declining-balance

Beginning Book Value: 2016 $ 2017 $

Depreciation: 2016 $ 2017 $

Ending Book Value: 2016 $ 2017 $