Cornerstone Exercise 7-22 Revision of Depreciation On January 1, 2016, Shapiro Inc. purchased a machine for $115,000. Shapiro depreciated overhaul, costing $30,000, was made. After the overhaul, the machine's residual value is Required: Determine the depreciation expense for 2018. $ 7,773 x Cornerstone Exercise 7-22 Revision of Depreciation On January 1, 2016, Shapiro Inc. purchased a machine for $115,000. Shapiro depreciated overhaul, costing $30,000, was made. After the overhaul, the machine's residual value is Required: Determine the depreciation expense for 2018. $ 7,773 x