Question 3 Not complete Marked out of 7.50 P Flag question Computing Depreciation and Accounting for a change of Estimate Lambert Company acquired machinery costing $130,000 on January 2, 2016. At that time, Lambert estimated that the useful life of the equipment was 6 years and that the residual value would be $15,000 at the end of its useful life. Compute depreciation expense for this asset for 2016, 2017, and 2018 using the: a, straight-line method. Round to the nearest dollar, 2016 $ 2017 $ 2018$ b. double-declining balance method. Round to the nearest dollar. 2016 $ 2017 $ 2018 $ C. Assume that on January 2, 2018, Lambert revised its estimate of the useful life to 7 years and changed its estimate of the residual value to $10,000. What would be the new depreciation expense in 2018 for each of the above depreciation methods? Round to the nearest dollar. Straight line $ Double-declining-balance $ Check