Sandhill Co. purchased a new machine on October 1, 2022, at a cost of $67,560. The company estimated that the machine has a salvage value of $6,900. The machine is expected to be used for 72,200 working hours during its 6-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round

Results are below.

Explanation:

Giving the following formula:

Purchase price= $67,560

Salvage value= $6,900

Useful life= 6 years

To calculate the depreciation expense under the straight-line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (67,560 - 6,900) / 6

Annual depreciation= $10,110

2022:

Annual depreciation= (10,110/12)*3= $2,527.5

2023:

Annual depreciation= $10,110

lots of credit card rewards

answer; private store;