Exercise 8-13 Revising depreciation LO C2 12.5 points Apex Fitness Club uses straight-line depreciation for a machine costing $22,800, with an estimated four-year life and a $2,250 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,800 salvage value. 02:37:39 Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. % Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the machine's book value at the end of its second year. Book Value at the End of Year 2: Cost $ 22,800 10,276 X Accumulated depreciation 2 years Book value at point of revision $ 12,524 Required 2 > 1 Exercise 8-13 Revising depreciation LO C2 5 Ints Apex Fitness Club uses straight-line depreciation for a machine costing $22,800, with an estimated four-year life and a $2,250 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,800 salvage value. 02:37:11 Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 equired 2 Compute the amount of depreciation for each of the final three years given the revised estimates. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) $ 12,524 1,800 Revised Depreciation (Years 3-5) Book value at point of revision Revised salvage value Remaining depreciable cost Years of life remaining Revised annual depreciation years 10,724 X 3 $ 3,575 3-5