lomework Help Save & Exit Su Check my w Freedom Co purchased a new machine on July 2, 2019 at a total installed cost of $17,000. The machine has an estimated life of five years and an estimated salvage value of $6,600. Required: a. Calculate the depreciation expense for each year of the asset's life using 1. Straight line depreciation 2. Double declining balance depreciation b. How much depreciation expense should be recorded by Freedom Co for its fiscal year ended December 31, 2019, under each method? (Note: The machine will have been used for one-half of its first year of life.) c. Calculate the accumulated depreciation and net book value of the machine at December 31, 2020, under each method Complete this question by entering your answers in the tabs below. Required AlRequired A2 Required B Required Calculate the depreciation expense for each year of the asset's life using Straight-line depreciation. Year Depreciation Expense 8.080 @ Check my Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required B Required Book Calculate the depreciation expense for each year of the asset's life using Straight-line depreciation. Print Year Depreciation Expense $ 8,080 ences 1 e to search o e com Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required B Required C Calculate the deprection expense for each year of the asset's life using Double-declining balance depreciation. Year Depreciation Expense Check Complete this question by entering your answers in the tabs below. Required B Required A1 Required A2 Required B Required C How much depreciation expense should be recorded by Freedom Co. for its fiscal year ended December 31, 2019, under each method? (Note: The machine will have been used for one-half of its first year of life.) Depreciation Expense Straight-line Double declining balance Required A2 Required c > C. Calculate the accumulated depreciation and net book value of the machine at December 31, 2020, under each method. Complete this question by entering your answers in the tabs below. Required Al Required A2 Required B Require Calculate the accumulated depreciation and net book value of the machine at December 31, 2020, under each method. Accumulated Depreciation Net Book Value Cost 47,000 Straight-line Double declining balance 47,000