Hi, I am having with this question. Can you please provide an answer, and a brief explanation? Thanks.

Blank Mind, Inc, just purchased a new psychograph machine for $10,000. The expected resale value (salvage value) after 4 years is $500. Determine (1) the depreciation charge and (2) book value for Years 1 through 3 using the declining balance method (a = 200%) Depreciation Charge Year 1: Book Value Year 1: Depreciation Charge Year 2: Book Value Year 2: Depreciation Charge Year 3: Book Value Year 3.