Help On January 1, 2019, Woodstock, Inc. purchased a machine costing $46,750. Woodstock also paid $1050 for transportation and installation. The expected useful life of the machine is 7 years and the residual value is $5.100 How much is the annual depreciation expense, assuming use of the straight-line depreciation method? 03 Multiple Choice $6.829 $6.100 Help Save ma How much is the annual depreciation expense, assuming use of the straight line depreciation method? 3 Multiple Choice 5:43 $6.829 $6,100 $6.679 $6,942