Exercise 7-5 X Your answer is incorrect. Try again. Ivanhoe Company purchased a new machine on October 1, 2017, at a cost of $77,980. The company estimated that the machine has a salvage value of $6,860. The machine is expected to be used for 72,900 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a December 31 year-end. (Round answers to 0 decimal places, e.g. 5,275.) 2017 2018 77735 The depreciation expense under the straight-line method Open Show Work Click if you would like to Show Work for this question: LINK TO TEXT VIDEO: SIMILAR EXERCISE VIDEO: APPLIED SKILLS Question Attempts: 1 of used