Farmer Company purchased machine on January 1, Year 1 for $106,000. The machine is estimated to have a 5-year life and a salvage value of $15,000. The company uses the straight-line method. 24 At the beginning of Year 4, Farmer revised the expected life to eight years. What is the annual amount of depreciation expense for each of the remaining years in the machine's life? 02:28:24 Print Multiple Choice $7.280 $10,280 $6,425 $4,550 35 On January 1, Year 1, Ballard company purchased a machine for $40,000. On January 1, Year 2, the company spent $13,000 to improve its quality. The machine had a $7,600 salvage value and a 6-year life, which are unchanged. Ballard uses the straight-line method. What is the book value of the machine on December 31, Year 4? 8 02:28:10 Multiple Choice Print $8,000 $23,600 O $16,200 $16,000