Financial position 2016: Machinery = $50,600

Some machinery (a non-current asset), which was bought on 1 January 2013 for $26,000, has proved to be unsatisfactory. It was part-exchanged for some new machinery on 1 January 2014, and WW Associates paid a cash amount of $12,000. The new machinery would have cost $30,000 had the business bought it without the trade-in. The business uses the reducing-balance method of depreciation for non-current assets at the rate of 30% each year

How to calculate machinery depreciation step by step?