Computing straight-line and double-declining-balance depreciation on january 2, reed company purchases a laser cutting machine for use in fabrication of a part for one of its key products. the machine cost $75,000, and its estimated useful life is five years, after which the expected salvage value is $5,000. for both parts (a) and (b) below: (1) compute depreciation expense for each year of the machine's five-year useful life under that depreciation method. (2) use the financial statements effects template to show the effect of depreciation for the first year only for that method.