E8-27. Computing Depreciation and Accounting for a Change of Estimate Lambert Company acquired machinery costing $110,000 on January 2,2016. At that time, Lambert es- timated that the useful life of the equipment was 6 years and that the residual value would be $15,000 at the end of its useful life.Compute depreciation expense for this asset for 2016,2017,and 2018 using the a. straight-line method. b. double-declining-balance method. c. Assume that on January 2,2018, Lambert revised its estimate of the useful life to 7 years and changed its estimate of the residual value to $10,000. What effect would this have on deprecia tion expense in 2018 for each of the above depreciation methods