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Cholce Among Depreciation Methods Walnut Ridge Production Inc. purchased a new computerized video-editing machine at a cost of $370,000. The 5y ytem has a residual value of $52,400 and an expected life of 5 years. Required: 1. Compute depreciation expense, accumalated depreciation, and book value for the first 3 years of the machine's life ising: 1. Compute depreciation expense, accumulated depreciation, and book value for the first 3 years of the machine's life using: a. The straight-line method