Hepburn Company bought a copyright for $61,000 on January 1, 2013, at which time the copyright had an estimated useful life of 10 years. On January 5, 2016, the company determined that the copyright would expire at the end of 2021. How much should Hepburn record as amortization expense for this copyright for 2016? (Do not round your intermediate calculation and round your answer to the nearest dollar amount.)

Popeye Company purchased a machine for $390,000 on January 1, 2015. Popeye depreciates machines of this type by the straight-line method over a five-year period using no salvage value. Due to an error, no depreciation was taken on this machine in 2015. Popeye discovered the error in 2016. What amount should Popeye record as depreciation expense for 2016? The tax rate is 30%.