ABC Company bought machinery on January 1, 2023 for $51,000. At the time of purchase, the machinery was estimated to have a useful life of 5 years and a salvage value of $6,000 at the end of five years. a. Use the straight-line method to calculate depreciation for 2023. b. What is the book value of the machinery if the balance in the Accumulated Depreciation account is $18,000?

ABC Company bought machinery on January 1,2023 for $51,000. At the time of purchase, the machinery was estimated to have a useful life of 5 years and a salvage value of $6,000 at the end of five years. a. Use the straight-line method to calculate depreciation for 2023. b. What is the book value of the machinery if the balance in the Accumulated Depreciation account is $18,000