Question 8 Bridgeport Company purchased Machine #201 on May 1, 2017. The following information relating to Machine #201 was gathered at the end of May Price $96,900 2/ 10, /30 $912 $ 4,332 Credit terms Freight-in Preparation and installation costs Labor costs during regular production operations$11,970 It is expected that the machine could be used for 10 years, after which the salvage value would be zero. Bridgeport intends to use the machine for only 8 years, however, after which it expects to be able to sell it for $1,710. The invoice for Machine #201 was paid May 5, 2017 Bridgeport uses the calendar year as the basis for the preparation of financial statements x Your answer is incorrect. Try again Compute the depreciation expense for the years indicated using the following methods Depreciation Expense (1) Straight-line method for 2017 6680 (2) Sum-of-the-years'-digits method for 2018 16397 (3) Double-declining-balance method for 2017 13361