Practice 8.9 On 10/1 Your Co. buys a new drill press for $50,000, the drill press has an expected life of 20 years or 90,000 machine hours and a $5,000 salvage value. How much are depreciation expense and accumulated depreciation for the first 3 years using straight-line, double-declining balance, and units of activity methods? Assume the drill was used 6,000 machine hours the first year, 25,000 hours the second year and 30,000 in the third year. Depreciation Expense Accumulated Depreciation Year 1 Year 2 Year 3 de