Delta Machine Company purchased a computerized assembly machine for 5108.000 on January 1 Year 1 Delta Machine Company estimated that the machine would have a life of four years and a $1.000 salvage value Delta Machine Company ines the strate method to compute depreciation expense. At the beginning of Year 3. Delta discovered that the machine was quickly becoming obsolete and would have little value at the end of is useful le Comequently, Delta Machine Company revised the estimated stage to only $3,000 it did not change the estimated useful le of the machine Compute the depreciation expense for each of the four years. Years Depreciation Expense Year Year 2 Year Year 4 Indicate whether each of the following statements is true or false, a) Long-term assets having no physical substance are called intangible assets. b) Trademarks are examples of an intangible asset c) Natural resources are examples of tangible long-term assets d) The reason that land is classified separately from other tangible assets is because the cost is normally much higher e) Goodwill is classified as Plant, Property and Equipment