Current Attempt in Progress Ivanhoe Company purchased a new machine on October 1, 2025, at a cost of $77,980. The company estimated that the machine has a salvage value of $6,580. The machine is expected to be used for 72,900 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2025 and 2026, assuming a December 31 year-end. 2025 2026 Depreciation expense under the straight-line method $ $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer