Whispering Winds Corp. purchased a new machine for $312,500. It is estimated that the machine will have a $31,250 salvage value at the end of its 5-year useful service life. The double-declining-balance method of depreciation will be used. Prepare a depreciation schedule that shows the annual depreciation expense on the machine for its 5-year life. End of Year Book Value Beginning of Year Annual Depreciation Expense Accumulated Depreciation Book Value End of Year Year 1 $ 9,250* * Adjusted to $9,250 because ending book value should not be less than expected salvage value