Exercise $6-15($Algo$)$ Depreciation calculation methods LO $6-3$

Millco Incorporated acquired a machine that cost $$450,000$ early in $2022.$ The machine is expected to last for ten years, and its

estimated salvage value at the end of its life is $$65,000.$

Required:

a$.$ Using straight$-$line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's life and

calculate the accumulated depreciation after the sixth year of the machine's life.

b$.$ Using declining$-$balance depreciation at twice the straight$-$line rate, calculate the depreciation expense for the third year of the

machine's life.

c$.$ What will be the net book value of the machine at the end of its ten year of use before it is disposed of$,$ under each depreciation

method?

Complete this question by entering your answers in the tabs below.

Req C

a$.$ Using straight$-$line depreciation, calculate the depreciation expense to be recognized in the first year of the machine's life

and calculate the accumulated depreciation after the sixth year of the machine's life.

b$.$ Using declining$-$balance depreciation at twice the straight$-$line rate, calculate the depreciation expense for the third year of

the machine's life.