Question 2 Lockard Company purchased machinery on January 1, 2020, for $80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years. * Your answer is incorrect. Try again. Compute 2020 depreciation expense using the straight-line method. Depreciation expense x Your answer is incorrect. Try again. Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2020. Depreciation expense