Time remaining: 0:17:34 Double-Declining Balance Method On January 1, 2020, Madison Garden Products purchased a machine at a total cost of $81000 The company depreciates its machine over a useful life of 3 years using the double-declining balance method and assumes a $4,000 salvage value Calculate the following amounts relate to the machine as they would appear in the income statements of Madison Garden Products References Section Break Double-Declining Balance Method a Type here to search O Predmeti 4:20 PM 12/16/20.20 E INSIGNIA 1|| Apps www.google.com Yahoo B Welcome to MyBSU... 00 value 2.00 points Depreciation expense for the first year Depreciation expense for the year ended December 31, 2020 $26,000 O $27.000 $52,000 $54,000 References Multiple Choice Type here to search Depreciation expense for the first OPE INSIGNIA 9. value 2.00 points Depreciation expense for the second year Depreciation expense for the year ended December 31, 2021 $36.000 $34,667 $18,000 O $17,333 References Multiple Choice Depreciation expense for the second year Type here to search INSIGNIA