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1. Maple Inc. just purchased a machine for $20,000 to use on a new project. The shipping costs are $4,500 and installation charges total $2,000.

1. Maple Inc. just purchased a machine for $20,000 to use on a new project. The shipping costs are $4,500 and installation charges total $2,000. Maple is anticipating an increase of $10,000 in net working capital requirements. The machine is being depreciated straight line over 7 years to an estimated salvage value of $2,000. What is the annual depreciation expense? show work

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