QUESTION 12 The cost of equipment purchased by Douglas Corporation on May 1, 2018 is $75,000. It is estimated that the machine will have a $5,000 salvage value. Its service life is estimated at 10 years. During 2018 the machine was operated 5,000 hours. During 2019 the machine was operated 6,000 hours. Compute depreciation expense on the machine for the years ending December 31, 2018 and 2019 using the straight-line and double-declining balance methods. Round your answers to dollars. 2018 Straight-line depreciation 2019 Straight-line depreciation 2018 Double declining balance 2019 Double declining balance