· Company A purchased machinery for $50,000 on January 1, 2023. The machinery has a useful life of 5 years and a salvage value of $5,000. Calculate the depreciation expense for the year ended December 31, 2023, using the straight-line method. Also, calculate the carrying amount of the machinery at the end of 2023. Company A reported a net income of $200,000 for the year.