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

$enter the Depreciation expense in dollars

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

Depreciation expense

$enter the Depreciation expense in dollars