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On January 1 of the current year, the Oil Company purchased machinery for $127,000. The machinery has an estimated useful life of 5 years and an estimated salvage value of $7,000. Complete the depreciation schedule below. Each formula in column D must include the SLN function. 7 3 9 10 Cost Salvage Life (in years) $127,000 $7,000 5 12 January 1 book value $127,000 This is not a formula Depreciation Accumulated Expense Depreciation December 31 book value 13 14 15 16 17 18 19 20 Year 1 2 3 4 5 21 On January 1 of the current year, the Oil Company purchased machinery for $127,000. The machinery has an estimated useful life of 5 years and an estimated salvage value of $7,000. Complete the depreciation schedule below. Each formula in column D must include the SLN function. 7 3 9 10 Cost Salvage Life (in years) $127,000 $7,000 5 12 January 1 book value $127,000 This is not a formula Depreciation Accumulated Expense Depreciation December 31 book value 13 14 15 16 17 18 19 20 Year 1 2 3 4 5 21