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Crane Company purchased a tooling machine on January 3, 2019 for $1030000. The machine was being depreciated on the straightline method over an estimated useful
Crane Company purchased a tooling machine on January 3, 2019 for $1030000. The machine was being depreciated on the straightline method over an estimated useful life of 10 years with no salvage value. At the beginning of 2026, the company paid $211000 to overhaul the machine. As a result of this improvement, the company estimated that the useful life of the machine would be extended an additional 5 years (15 years total). What amount of depreciation expense should be recorded for the machine in 2026? $20300$10000$91000$65000
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