PLANT ASSETS, NATURAL RESOURCES, & INTANGIBLES Depreciation Expense ---- Double-Declining Method Prepare a schedule of depreciation expense per year and prepare a schedule of the book value. I The Wetmore Industry Company purchased a machine costing $40,000 on January 1, 2017. It has an estimated useful life of 5 years and a salvage value of $5,000. Formula - Double-Declining percentage - 100/5years = 20 * 2 = 40% 1. Calculate depreciation expense for 2017 - double-declining-balance method Depreciation Expense (calculation) 2. Determine the book value of the machine on December 31, 2017 Book value -cost-accumulated depreciation Book value at 12/31/2017=