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Depreciation Methods. Berkshire Corporation purchased a copying machine for $9,800 on January 1, 2023. The machine's residual value was $1,175 and its expected life was 5 years or 2,000,000 copies. Actual usage was 480,000 copies the first year and 440,000 the second year. Depreciation Expense 2023 3,920 2024 2,352 c. Units-of-production method. Do not round intermediate calculations. Round your final answers to the near whole dollar. Depreciation Expense 2023 2,070 X 2024 2. For each depreciation method, what is the book value of the machine at the end of 2023? At the end of 2024? If required, round your answers to the nearest whole dollar. 2023 2024 a. Straight-line method 8,075 6,350 b. Double-declining-balance method 5,880 3,528 c. Units-of-production method 7,730 Feedback Depreciation Methods Quick-as-Lightning, a delivery service, purchased a new delivery truck for $40,000 on January 1, 2023. The truck is expected to have a useful life of 10 years or 150,000 miles and an expected residual value of $3,000. The truck was driven 15,000 miles in 2023 and 13,300 miles in 2024. Required: 1. Compute depreciation expense for 2023 and 2024 using the: a. Straight-line method. Depreciation expense: 3,700 per year b. Double-declining-balance method. Depreciation Expense 2023 8,000 6,400 2024 c. Units-of-production method. Do not round intermediate calculations. If required, round your answers to the nearest whole dollar. Depreciation Expense 2023 3,700 2024 2. For each method, what is the book value of the machine at the end of 2023? At the end of 2024? Round your 2023 2024 a. Straight-line method 36,300 32,600 b. Double-declining-balance method 32,000 25,600 X c. Units-of-production method 36,300 3. Conceptual Connection: If Quick-as-Lightning used an 8 year useful life or 100,000 miles and a residual value of $1,000, what would be: (a) Depreciation expense. Do not round intermediate calculations. Round your answers to the nearest whole dollar. a. Straight-line method: 4,875 V 2023 2024