Exercise 9-18 Revising depreciation rates-change in useful life and residual value LO 4 The Hilton Skating Club used straight-ine depreciation for a used Zamboni ice-resurfacing mochine thot cost $50,500, under the assumption it would have a fout-year life and a $6,400 trade-in value. After two years, the club determined that the Zamboni still had three more years of remaining useful life, ofter which it would have an estimoted $4,270 trode-in volue. Required: 1. Calculate the Zamboni's book value ot the end of its second year: Zumbonis book value 2. Calcufate the amount of depreciation to be chorged during each of the femaining years in the Zomboni's revised usefuilife