requirment 2

Loretta Company is considering the purchase of a laser engraving machine that will allow it to ofler personalization of its products. The laser engraving machine would be purchased for $28,500 and placed into service on the first day of Loretta's fiscal year. Loretta must pay freight of $4,200 to ship the machine to its factory. Loreta will aiso pay $2,900 of installation costs. The estimated useful life of the laser engraving machine ts eight years and its estimated saivage value is $5,200. Read the requirements. (Note: An Excel file is not provided for this question. You will create your own Excel file, using the information provided, to answer the questions:) Requirement 1. Calculate the straight-ine depreciation expense por year for the machine using the SLN function in Excel. List the depreciaton expense for each yoar of the machine's estimated useful life. Loretta Company is considering the purchase of a laser engraving machine that will allow it fo offer personalization of its products. The laser engraving machine would be purchased for $28,500 and placed into service on the first day of Lorettais fiscal year. Loretha must pay freight of \$4,200 to ship the machine to its factory. Lorota wili also pay $2,900 of installation costs. The estimatod useful life of the laser engraving machine is oight yoars and its ostimaled thalvage value is $5,200. Read the reguirements. (Note: An Excel file is not provided lor this question. You will create your own Excol fle, using the information provided, to answer the cuestions.) Requirement 2. Calculate the double-declining balance depreciation expense per year for the machine using the DDE function in Excel. List the degreciaton axpense for each year of the machine's estimated useful life. (Complote all input fields. Enter amounts to the nearest cent, X.XX. Einter a o for any zero balances.)