Blue Corp. purchased a machine on July 1, 2020, for $30,920. Blue paid $220 in title fees and a legal fee of $175 related to the machine. In addition, Blue paid $610 in shipping charges for delivery, and $475 to a local contractor to build and wire a platform for the machine on the plant floor. The machine has an estimated useful life of 10 years, a total expected life of 12 years, a residual value of $5,900, and no salvage value. Blue uses straight-line depreciation.

Calculate the 2020 depreciation expense if Blue prepares financial statements in accordance with IFRS.

Depreciation expense

Calculate the 2020 depreciation expense if Blue prepares financial statements in accordance with ASPE.

Depreciation expense