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M8-4 (Algo) Computing Book Value (Straight-Line Depreciation) LO8-3 A three-year-old machine has a cost of $70,000, an estimated residual value of $5,000, and an estimated

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M8-4 (Algo) Computing Book Value (Straight-Line Depreciation) LO8-3 A three-year-old machine has a cost of $70,000, an estimated residual value of $5,000, and an estimated useful life of five years. The company uses straight-line depreciation. Calculate the net book value at the end of the third year

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