K McGreevy Corporation is thinking of buying a new machine that will cost $87,000. The machine's estimated useful life is seven years, while its estimated residual value is $10,000. McGreevy uses the double declining balance method for calculating depreciation on its machinery and equipment. (Click the icon to view the additional information.) The controller uses Excel's DDB function to produce the following depreciation expense schedule for this machine (Click the icon to view the depreciation expense schedule for this machine.) Calculate the operating income from the machine for each of the seven years of its life using the information provided in the exercise and the Excel results pictured (Hint: Operating income Revenues Operating expenses Depreciation expense.) (Enter amounts to the nearest cent, XXX.) Year 1 Year 2 Year 3 Year 4 Year 5. Year 6 Year 7 Operating income Clear all Check answer text pages Get more help Q Search K McGreevy Corporation is thinking of buying a new machine that will cost $87,000. The machine's is seven years, while its estimated residual value is $10,000. McGreevy uses the double-declinim calculating depreciation on its machinery and equipment. (Click the icon to view the additional information.) More Info uses Excel's DDB function to produce the following depreciation expense schedul More infor The costs of operating the new machine (not including depreciation expense) are expected to be $11,000 per year, while the machine will generate revenues of $88,000 per year. Assume that the machine is purchased and placed into service on the first day of McGreevy's fiscal year. Year 5 Year 6 Year 7 Print Done Xsing the erating e K IS SAMO ca TH D (E bile de estimated cocidual value is $10,000 McGroovy uses the double-de Data table - - X Data Table Depreciation expense using DDB function: Year 1 $ 24,857.14, Year 2 Year 3 Year 4 Year 5 S 69 S 17,755.10 12,682.22 9,058,73 6,470.52 Year 6 $ 4,621.80 Y Year 7 $ 1,554.50 Y Ye Ye Print Done Y Ye Year 7 reciation expense sch machine.) n years of its life using = Revenues - Opera