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After 4 years, a machine had an accumulated depreciation of $40,000. Originally, the machine had an anticipated life of 8 years and a salvage value
After 4 years, a machine had an accumulated depreciation of $40,000. Originally, the machine had an anticipated life of 8 years and a salvage value of $7,000. If the current book value after 4 years is $45,000 and the machine has only 3 years of useable life left, how much will be depreciated in Year 5 and in Year 6 using the
straightline
method of depreciation, and assuming the salvage value is still $7,000? (Round your final answer to the nearest dollar.)
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