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Hamilton Company purchased a machine for $11,800 on January 1, 2016. The machine has been depreciated using the straight-line method over a four -year life

Hamilton Company purchased a machine for $11,800 on January 1, 2016. The machine has been depreciated using the straight-line method over a four -year life with a $1,600 residual value. Hamilton sold the machine on January 1, 2018, for $8,000 .

What is straight-line depreciation for the year ended December 31, 2016? The depreciation is $________ and What is the book value on December 31, 2017? The book value is $_______

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