On January 1, Year 1. Diamond Brokers Company purchased a diamond cutting mofhine with a total cost of $21,200. The company estimates that the machine will have a 20 year usefut life and a salvage value of $2,600. The company has elected to depreciate the machine using the straight-line method. Required: a. Determine the annual amount of depreciation expense to be recognized on the machine each year? b. Determine the amount of occumulated depreciation ot the end of Year 3