Tamarisk. Inc. purchased a 777 aircraft on January 1, 2020 at a cost of $40,600,000. The estimated useful life of the aircraft is 20 years, with an estimated salvage value of $6,090,000 Compute the accumulated depreciation and book value at December 31, 2022 using the straight-line method and the double- declining-balance method Straight-line Accumulated depreciation Declining-balance $ $ Book value $ Cullumber Company bought machinery on January 1, 2009, at a cost of $120,000. The machinery had an estimated life of 8 years and salvage value of $20,480. On January 1, 2014, Cullumber estimates that the machinery will have a life of only 2 more years from January 1, 2014, and the salvage value is now estimated to be $5,120. Cullumber uses straight-line depreciation. Compute the annual depreciation expense for 2014 Annual depreciation expense for 2014 $ Equipment was acquired on January 1, 2019 at a cost of $176,000. The equipment was originally estimated to have a salvage value of $35,000 and an estimated life of 10 years. Depreciation has been recorded through December 31, 2021 using the straight-line method. On January 1, 2022, the estimated salvage value was revised to $43,000 and the useful life was revised to a total of 8 years. Prepare the journal entry to record depreciation expense for 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Depreciation expense for 2022 Adjusting journal entry at 12/31/22: Date Account Titles and Explanation Debit Credit Dec. 31