Lockard Company purchased machinery on January 1, 2014, for $80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 4 years. Compute depreciation expense using the sum-of-the-years'-digits method. Step 1: Sum the years digits [Select] Step 2: Compute Depreciation Expense for each year. 2014 depreciation: [Select] 2015 depreciation: [Select] 2016 depreciation: [Select] 2017 depreciation: [Select] >