Exercise 255 (Part Level Submission)

Jensen Company purchased a new machine on October 1, 2017, at a cost of $104,000. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 80,000 working hours during its 8-year life. Compute depreciation using the following methods in the year indicated.

[Collapse question part]

Declining-balance using double the straight-line rate for 2017 and 2018.