Goodrich Company purchased a machine on October 1, 2017, for $50,000. The machine has an estimated salvage value of $15,000 and an estimated useful life of eight years.

How do I compute to the nearest dollar the amount of depreciation Goodrich should record on the machine for the years ending December 31, 2017, and 2018, under each of the following methods:

a.Straight-line method

b.Sum-of-the-years'-digits method

c. Double-declining-balance method