Kingbird, Inc. purchased a new machine for $425,000. It is estimated that the machine will have a $40,000 salvage value at the end of its 5-year useful service life. The double-declining-balance method of depreciation will be used. Prepare a depreciation schedule that shows the annual depreciation expense on the machine for its 5-year life. Year 1 2 3 4 5 Book Value Beginning of Year $ Annual Depreciation Expense $ 15,080 End of Year Accumulated Depreciation $ Book Value End of Year $

Kingbird, Inc. purchased a new machine for $425,000. It is estimated that the machine will have a $40,000 salvage value at the end of its 5-year useful service life. The double-declining-balance method of depreciation will be used. Prepare a depreciation schedule that shows the annual depreciation expense on the machine for its 5 -year life