Novak Corp. purchased a machine on July 1, 2020, for $32,090. Novak paid $220 in title fees and a legal fee of $125 related to the machine. In addition, Novak paid $540 in shipping charges for delivery, and $625 to a local contractor to build and wire a platform for the machine on the plant floor. The machine has an estimated useful life of 10 years, a total expected life of 12 years, a residual value of $6,500, and no salvage value. Novak uses straight-line depreciation.

Calculate the 2020 depreciation expense if Novak prepares financial statements in accordance with IFRS.

Depreciation Expense = $???

Calculate the 2020 depreciation expense if Novak prepares financial statements in accordance with ASPE.

Depreciation Expense = ???