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23 01:26:54 Tangerine Corp. constructed a machine at a total cost of $360 million. Construction was completed at the end of 2017 and the machine
23 01:26:54 Tangerine Corp. constructed a machine at a total cost of $360 million. Construction was completed at the end of 2017 and the machine was placed in service at the beginning of 2018. The machine was being depreciated over a 10- year life using the sum-of-the-years'-digits method. By that method, accumulated depreciation at the end of 2020 is $172.8 million. The residual value is expected to be $8.0 million. At the beginning of 2021, Tangerine decided to change to the straight-line method. Ignoring income taxes, what will be Tangerine's depreciation expense for 2021? Multiple Choice $28.8 million. $46.8 million. $25.6 million. $9.4 million
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