On July 31, 2017, Foley Distribution Service purchased a copy machine for $39,200. Foley Distribution Service expects the machine to last for four years and to have a residual value of $2,000. Compute depreciation expense on the machine for the year ended December 31, 2017, using the straight-line method. Begin by selecting the formula to calculate the company's depreciation expense on the machine for the year ended December 31, 2017. Then enter the amounts and calculate the depreciation expense. (Abbreviation used Acc accumulated. Do not round intermediary caloulations. Only round the amount you input for straight-line depreciation to the nearest dollar) Straight-line xNumber of Months depreciation Cost Residual Value Useful Life 12) /12)