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Current Attempt in Progress Your answer is incorrect. Sheridan Company purchased a new machine on October 1,2022 , at a cost of $66,840. The company
Current Attempt in Progress Your answer is incorrect. Sheridan Company purchased a new machine on October 1,2022 , at a cost of $66,840. The company estimated that the machine has a salvage value of $6,720. The machine is expected to be used for 70,100 working hours during its 6-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 0 decimal places, e.g. 5,275.)
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