Marcom Inc., a calendar year-end company, purchased a machine on 1/1/X1 with the following attributes: Cost $ 50,000 Salvage Value $ 2,000 Useful life 4 years Assuming Marcom uses the straight-line depreciation method, answer each of the following questions: Question #1: How much depreciation expense should be recorded in 20X2 (the second year of the asset's life)? Answer: $Answer 1 Question 13 12,000 . Question #2: What should be the balance in the "Accumulated Depreciation" account at the end of 20X2, after all year-end journal entries have been prepared? Answer: $Answer 2 Question 13 24,000 . Question #3: What should be the book value of the machine at the end of 20X2, after all year-end journal entries have been prepared? Answer: $Answer 3 Question 13 26,000