Watkins Production purchased a new computerized machine at a cost of $450,000. The machine has a residual value of $64,000 and an expected life of 5 years. The actual machine hours were a total of 154,400 over the 5 years. Each year the hours were: 55,000 in year 1, 50,000 in year 2, 30,000 in year 3, 13,000 in year 4, and 6,400 in year 5. 1. Calculate the depreciation cost per machine hour (2 points. Need to use a formula in the cell for full credit). Depreciation cost/machine hour: 2. Using the table I started for you below, calculate the depreciation expense, accumulated depreciation and book value for all 5 years of the machine's expected life using the units of production method of depreciation. (8 points. Need to use formulas/cell references in the cells whenever possible in order to earn full credit.) Year 0 1 2 3 4 5 Depreciation Expense Accumulated Depreciation Book Value