The Bendell Company purchased a piece of machinery for $120,000.00. It has an estimated useful life of five years or 12,000 hours and a residual value of $6,000.00. What is the calculated depreciation for years 1 and 2 by the Straight line method? Year 1: 28,500 Year 2: 26,600 Year 1:28, 800 Year 2:28,800 The Bendell Company purchased a piece of machinery for $120,000.00. It has an estimated useful life of five years or 12,000 hours and a residual value of $6,000.00. What is the calculated depreciation for years 1 and 2 by the Straight line method? Year 1: 28,500 Year 2: 26,600 Year 1:28, 800 Year 2:28,800