Martinez Company purchased a new machine for $445,000. It is estimated that the machine will have a $44,500 salvage value at the end of its 5-year useful service life. The double-declining-balance method of depreciation will be used. Prepare a depreciation schedule which shows the annual depreciation expense on the machine for its 5-year life. Year 1 $ Book Value Beginning of Year 2 3 4 5 Annual Depreciation Accumulated Depreciation Rate Expense Depreciation % $ $ % % % % *Adjusted to $13,172 because ending book value should not be less than expected salvage value. 13,172*