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Novak Company purchased a new machine on October 1, 2022, at a cost of $110,100. The company estimated that the machine will have a salvage

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Novak Company purchased a new machine on October 1, 2022, at a cost of $110,100. The company estimated that the machine will have a salvage value of $10,100. The machine is expected to be used for 10,000 working hours during its 4-year life. Compute the depreciation expense under straight-line method for 2022. 2022 Depreciation expense $ TA Compute the depreciation expense under declining-balance using double the straight-line rate for 2022 and 2023. 2022 2023 Depreciation expense $ $ $

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