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On 1/1/22, Magicino Corp. purchased a machine for $60,000. The machine cost Magicino $2,800 for delivery. At the end of 10 years, Magicino expects to
On 1/1/22, Magicino Corp. purchased a machine for $60,000. The machine cost Magicino $2,800 for delivery. At the end of 10 years, Magicino expects to sell the machine for $2,000.
1) Compute depreciation expense for 2023 using the double declining balance method: $ ____
2) Compute depreciation expense for 2023 using the sum-of-the years-digits method: $ ____
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