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Apex Company purchased a tooling machine on January 3, 20W1, for $30,000. The machine was being depreciated on the straightline method over an estimated useful

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Apex Company purchased a tooling machine on January 3, 20W1, for $30,000. The machine was being depreciated on the straightline method over an estimated useful life of 20 years, with no salvage value. At the beginning of 20X, when the machine had been in use for 10 years, the company paid $5,000 to overhaul it. As a result of this improvement, the company estimated that the remaining useful life of the machine was now 15 years. Required: What should be the depreciation expense recorded for this mochine in 20X1? (Round your answer to the nearest whole dollar amount.)

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