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Crane Company purchased a new machine on October 1, 2022, at a cost of $90,080. The company estimated that the machine has a salvage value

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Crane Company purchased a new machine on October 1, 2022, at a cost of $90,080. The company estimated that the machine has a salvage value of $8,640. The machine is expected to be used for 71,400 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. (Round answers to decimal places, eg. 5,275.) 2022 2023 The depreciation expense under the straight-line method

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