Help Save 8 Use the following information for the Exercises below. [The following information applies to the questions displayed below] On April 1,2016, Cyclone's Backhoe Co. purchases a trencher for $320,000. The machine is expected to last five years Cl and have a salvage value of $60,000 Exercise 8-12 Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense for both years end ing December 2016 and 2017 assuming the company uses the double-declining- of ng of Period Period Book Depreclation Partial DepreciationAccumulated Rate Year Expense Depreciation Book Value 2016 2017 o search Apex Fitness Club uses straight-line depreciation for a machine costing $20,950, with an estimated four year life and a value. At the beginning of the third year, Apex determines that the machine has three more years of will have an estimated $2,250 salvage value. $2.700 salvage remaining useful life, after which it Required: 1. Compute the machine's book value at the end of its second year 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below. Compute the machine's book value at the end of its second year. ook Value at the End of Year 2: Required 2> Pre 8 of1Next ere to search -line depreciation for a machine costing $20.950, with an estimated four year life and a $2.700 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2.250 salvage value. Required: 1. Compute the machine's book value at the end of its second year 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below Required 1 Required 2 Compute the amount of depreciation for each of the final three years given the revised estimates. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) depreciable cost Prev8 of 11 Next > e to search