STRAIGHT-LINE DEPRECIATION a) Prepare a depreciation schedule for the following scenario. Inputs: Machine Cost Estimated Salvage Value Estimated Useful Life $ $ 110,000 10,000 Annual Depreciation Expense Accumulated Depreciation Year $ Carrying Value 110,000 90,000 70,000 50,000 $20,000 20,000 20,000 $20,000 40,000 60,000 b) Prepare a depreciation schedule for the following scenario. Inputs: Machine Cost Estimated Salvage Value Estimated Useful Life 110,000 10,000 Annual Depreciation Expense Year Accumulated Depreciation Carrying Value 110,000 $ 03 N c) What is the annual expense when the asset has a 5 year estimated useful life? What is the annual expense when the asset has a 4 year estimated useful life? what happens to the annual depreciation expense when the company uses a shorter estimated useful life? Regardless of the estimated useful life, how much depreciation expesne will the company record over the life of the asset? If the company used a higher estimated salvage value, what would happen to the annual depreciation expense