Concord Corp. purchased a machine on July 1, 2020, for $32,110. Concord paid $280 in title fees and a legal fee of $225 related to the machine. In addition, Concord paid $560 in shipping charges for delivery, and $425 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 $6,400, and no salvage value. Concord uses straight-line depreciation.

Calculate the 2020 depreciation expense if Concord prepares financial statements in accordance with IFRS. Depreciation expense $enter the Depreciation expense in dollars LINK TO TEXT

Calculate the 2020 depreciation expense if Concord prepares financial statements in accordance with ASPE. Depreciation expense $enter the Depreciation expense in dollars