A machine is purchased on 1/1/16 for $12,000. Estimated life is 10 years and the estimated salvage value is $2,000. Straight-line depreciation is used. What will be the Depreciation Expens listed on the 2018 Income Statement and the Book Value on the 12/31/18 Balance Sheet, respectively? dooo Depreciation Expense $1,000 and Book Value $9,000 Depreciation Expense $1,000 and Book Value $7,000. Depreciation Expense $3,000 and Book Value $7,000 Depreciation Expense $3,000 and Book Value $8,400 Depreciation Expense $1,000 and Book Value $8,400