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Exercise 6-15 (Algo) Depreciation calculation methods LO 6-3 Millco Incorporated acquired a machine that cost $560,000 early in 2022 . The machine is expected to fast for ten years, and its estimated salvage value at the end of its iffe is $76,000. 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 sibth year of the machine's life. b. Using declining-balance depreciation ot 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. 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 depreciabon at twice the straight-line rate, calculate the depreciation expense for the third year of the machine's life. Exercise 6-15 (Algo) Depreciation calculation methods LO 6-3 Millco Incorporated acquired a machine that cost $560,000 early in 2022 . The machine is expected to last for teri years, and its estimated salvoge value at the end of its life is $76,000 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-talance depreciation ot 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. 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

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