Lussertown Company is considering the purchase of a laser engraving machine that will allow it to offer personalization of its products. The laser engraving machine would be purchased for $30,000 and placed into service on the first day of Lussertown’s fiscal year. Lussertown must pay freight of $4,000 to ship the machine to its factory. Lussertown will also pay $3,000 of installation costs. The estimated useful life of the laser engraving machine is eight years, and its estimated salvage value is $5,000. 

1. Calculate the straight-line depreciation expense per year for the machine using the SLN function in Excel. List the depreciation expense for each year of the machine’s estimated useful life. 

2. Calculate the double-declining balance depreciation expense per year for the machine using the DDB function in Excel. List the depreciation expense for each year of the machine’s estimated useful life.