Exercise 9-5 Sheridan 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 $7,070. The machine is expected to be used for 71,200 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.) 2018 2017 The depreciation expense under the straight-line method Click if you would like to Show Work for this question: Open Show Work