Kam Company purchased a machine on January 2, 2019, for $20,000. The machine had an expected life of 8 years and a residual value of $300. The double-declining-balance method of depreciation is used....

Kam Company purchased a machine on January 2, 2019, for $20,000. The machine had an expected life of 8 years and a residual value of $300. The double-declining-balance method of depreciation is used.

Required:

(If required, round to the nearest dollar.)

1. Compute the depreciation expense for each year of the asset's life and book value at the end of each year.
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   

   	Depreciation Expense	Book value
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026

   
   


2. Assuming that the company has a policy of always changing to the straight-line method at the midpoint of the asset's life, compute the depreciation expense for each year of the asset's life. Compute the depreciation using the double-declining-balance through year four, then switch to the straight-line method.
   
   
   2019: $
   2020: $
   2021: $
   2022: $
   2023: $
   2024: $
   2025: $
   2026: $
   
   
   
   


3. Assuming that the company always changes to the straight-line method at the beginning of the year when the annual straight-line amount exceeds the double-declining-balance amount, compute the depreciation expense for each year of the asset's life.
   
   
   2019: $
   2020: $
   2021: $
   2022: $
   2023: $
   2024: $
   2025: $
   2026: $