Problem 7-70B (Algorithmic) Depreciation Methods Graphic Design Inc. purchased a state-of-the-art laser engraving machine for $90,000. Graphic Design Inc determined that the system had an expected life of 10 year for 2,000,000 items engraved) and an expected residual value of $5,100. Required: 1. Determine the amount of depreciation expense for the first and second years of the machine's life using the a. Straight-line method. Round your answer to the nearest whole doitlar, and do not round Intermediate calculations. Depreciation expense: per year b. Double-declining-balance method. Round all amounts to the nearest whole dollar, and use rounded amounts for subsequent calculations Depreciation Expense Year: Year 2 2. If the number of items engraved the first and second years was 205,000 and 187,000 respectively, compute the amount of depreciation expense for the first and second years of the machine's life using the units-of-production depreciation method. Round your answers to the nearest whole dollar, and do not round intermediate calculations Depreciation Expense Year 1 Year 2 3. Compute the book values for all three depreciation methods as of the end of the first and second years of the system's life Year 1 Year 2 Required: 1. Determine the amount of depreciation expense for the first and second years of the machine's life using the a Straight-line method. Round your answer to the nearest whole dolar, and do not found intermediate calculations, Depreciation expenses per year 5. Double-deciring-balance method. Round all amounts to the nearest whole dolor, and use rounded amounts for subsequent calculations Depreciation Expense Year Year 2 2. If the number of items engraved the first and second years was 205,000 and 187,000 respectively, compute the amount of depreciation expense fort second years of the machine's life using the units-of production depreciation method. Round your answers to the nearest whole dollar, and do not round in calculations Depreciation Expense Year 1 Year 2. Compute the book values for all three depreciation methods of the end of the first and second years of the system's te Year 1 Sest method Double-dining-blance method Units of production method OH Cho My Woman Previous Save and can Sant MacBook Pro 3 F. F5 FO F7 FB F9 F10 F11 12 $ 4 % 5 6 UN +00 ( 9 0 - E R T Y U | 0 { F G H J J K L ; V B 00 N M