Can you please answer and explain? Exercise 8-13 (Algo) Revising depreciation LO C2

Apex Fitness Club uses straight-line depreciation for a machine costing $20,050, with an estimated four-year life and a $2,050 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,600 salvage value.

1. Compute the machines book value at the end of its second year.

2. Compute the amount of depreciation for each of the final three years given the revised estimates.

Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 2 Compute the amount of depreciation for each of the final three years given the revised estimates. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Compute the machine's book value at the end of its second year. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar