Leftie Inc. reported the following information about two of its machines as of December 31, 2019. For both machines, the straight-line method of depreciatia used: Machine Purchase Date Cost Useful Life Residual Value #1 Jan. 1, 2011 $800,000 20 years $40,000 #2 Jan. 1, 2019 $120,000 5 years $5,000 1. Calculate the annual depreciation expense for machine #1? 2. Calculate the annual depreciation expense for machine #2? 3. Calculate the carrying amount of machine #1 on Dec. 31, 2020 4. Calculate the carrying amount of machine #2 on Dec. 31J2020 5. If you determine, at the beginning of 2021, that machine #2 now has a residual value of $10,000, calculate its 2021 depreciation expense Check #OLD. e o 3 76 A 180R 110 f7 a 1 6 & 7 8 9 O T Y U O