The Pebble Beach Company purchased a new machine for $25,000. The useful life of the machine is 5 years and the salvage value is $5,000. Compute the depreciation expense for year 1 and the book value at the end of year 2 using each of the following methods: (a) straight-line and (b) double declining balance. Method Depreciation Year 1 Book Value Year 2 Straight-line Double Declining Balance