Dr. Boylan bought a new machine for his company Boylan's Belts. The machine cost $21,000 with a $1,000 salvage value and a 10-year useful life. 2. Compute the Depreciation expense on the Income Statement and the related book value on the Balance Sheet for each of the years using the STRAIGHT-LINE DEPRECIATION METHOD (C8-3) I/S Depreciation Expense Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 B/S Book Value