Ermier Company purchased a machine at a cost of dollar 60, 000 The machine Is expected to have a dollar 5,000 value at the end of its 5-year useful life. Instructions Compute annual depreciation for the first and second years using the straight-line method Double-declining-balance method Brown Company purchased equipment in 2008 for 5150.000 and estimated a 510.000 salvage value at the end of the equipments 10-year useful life At December 31. 2014 there was dollar 98,000 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation On March 31. 2015. the equipment was sold for dollar 40, 000. Prepare all necessary journal entries