Koffman's Warehouse purchased a forklift on January 1, 2017, for $6,000. The forklift isexpected to last for five years and have a residual value of $600. Koffman's uses the doubledeclining-balance method for depreciation. Round amounts to the nearest dollar.

Required:

1. Calculate the depreciation expense, accumulated depreciation, and book value for each yearof the forklift's life.