The Blue Company purchased a cutting machine on January 1, 2014 for $85,000. The machine was being depreciated on the straight-line method over an estimated useful life of 5 years, with no salvage value. At the beginning of 2016. the company paid $42,000 to overhaul the machine. As a result of this improvement, the company estimated that the useful life of the machine would be extended an additional three years (total of 8 years), but still would not have a salvage value. INSTRUCTIONS: Prepare a depreciation schedule for the machine for the years 2014 throughout the entire life of the asset. Include the Depreciation Expense for each year, the Accumulated Depreciation for each year and the Carrying Value for each year