Question 10 Sandhill Ltd, purchased machinery on January 1, 2020, for $60,000. The machinery is estimated to have a residual value of $5,860 after a useful life of eight years. Calculate the 2020 depreciation expense using the double-declining balance method Depreciation expense Calculate the 2021 depreciation expense using the double-declining balance method, but assuming the machinery was purchased on October 1, 2020. (Round answer too decimal places, e.g. 5,275. Do not round intermediate calculations.) Depreciation expense