Freedom Co. purchased a new machine on July 2, 2016, at a total installed cost of $48,000. The machine has an estimated life of five years and an estimated salvage value of $6,600.

Calculate the depreciation expense for each year of the asset's life using Straight-line depreciation.

Calculate the depreciation expense for each year of the asset's life using Double-declining-balance depreciation.

Calculate the accumulated depreciation and net book value of the machine at December 31, 2017, under each method.