Depreciation The Goodwill Corporation bought a new Machine at January 1 of 2017 for 32,000 with a salvage value of 2,000. The machine's useful life was estimated to be 3 years. a) Assume that the company uses the Straight-Line Depreciation and calculate the Depreciation Expense that needs to be recorded at the end of 2018 (second year)? b) If the company uses the Straight-Line Depreciation and sells the machine at the end of the third year (2019) for 6,000, what is result of this transaction; profit/loss and how much? c) How would the accountant record the entry required in (b) above? d) Assume that the company uses Double Declining Depreciation and calculate the Depreciation Expense that needs to be recorded at the end of 2018 (second year)? (Round to the nearest $) e) What would be the balance of Accumulated Depreciation after the second year, if the company uses the Straight Line depreciation method? f) What would be the balance of Accumulated Depreciation after the second year if the company uses the Double Declining Depreciation method