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Ivanhoe Company purchased a new machine on October 1,2025 , at a cost of $77,980. The company estimated that the machine has a salvage value

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Ivanhoe Company purchased a new machine on October 1,2025 , at a cost of $77,980. The company estimated that the machine has a salvage value of $6,580. The machine is expected to be used for 72,900 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2025 and 2026, assuming a December 31 year-end

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