View Policies Current Attempt in Progress Troy Ltd purchased a new machine on 1 October 2016 at a cost of $114,000. The entity estimated that the machine has a residual value of $18,000. The machine is expected to be used for 20,000 working hours during its 5-year life. Calculate the depreciation expense under the straight-line method for 2016 and 2017, assuming a 31 December year-end. 2016 $ 2017 $ View Policies Current Attempt in Progress Apex Chemicals Led acquires a delivery truck at a cost of $38,900 on 1 January 2016. The truck is expected to have a salvage value of $2,200 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method. (Round your computations (including the rate) and answers to O decimal places, e.g. 5,275.) First-year depreciation Second-year depreciation $