Walnut Ridge Production Inc. purchased a new computerized video-editing machine at a cost of $370,000. The system has a residual value of $55,100 and an expected life of 5 years. Required: 1. Compute depreciation expense, accumulated depreciation, and book value for the first 3 years of the machine's life using: a. The straight-line method. End of Year 1 2 3 b. The double-declining-balance method. Depreciation Expense End of Year 1 2 3 Depreciation Expense Year First year Second year Third year Accumulated Depreciation Method Accumulated Depreciation 2. Which method would produce the largest income in the first, second, and third years of the asset's life? Book Value Book Value

options for bottom 3 are: straight line method, double declining balance method

Walinut Ridge Froduction Inc. purchased a new computenzed video-editing machine ot a cost of $370,000.7 The system has a fesidual value of 355,100 and an expected ife of 5 years. Required: 1. Compute depreciation expense, accumulated depreciation, and book value for the first 3 years of the machine's ife using: a. The straight-line method