Coach You Problem $2$

Aggie Company purchased a new machine on October $1,2022,$ at a cost of $$90,400.$ The company estimated that the machine has a salvage value of $$7,840.$ The machine is expected to be used for $71,800$ working hours during its $8-$year life.

Compute the depreciation expense under the straight$-$line method for $2022$ and $2023,$ assuming a December $31$ year$-$end.