Ivanhoe Machines reported the following information about two of its machines as of December 31, 2023. Machine Date Acquired (a) #1 #2 Jan. 1, 2014 July 1, 2023 Your answer is correct. Annual depreciation Cost LA $688,000 103,200 Useful Life (in years) Machine 1 Calculate the annual depreciation for each asset using the straight-line method. 32,680 20 tA 5 Salvage Value $34,400 Machine 2 4,300 19,780

Ivanhoe Machines reported the following information about two of its machines as of December 31, 2023. (a) Your answer is correct. Calculate the annual depreciation for each asset using the straight-line method. Calculate the accumulated depreciation and book value of each asset on December 31, 2024