On Apn 30. 2024, Meggle Services purchased a copy machine for $50,000. Meggie Services expects the machine to last for four years and have a residual value of $2,000. Compute depreciabo expense on the machine for the year ended December 31, 2024, using the straight-line method. Begin by selecting the formula to calculate the company's depreciation expense on the machine for the year endod December 31, 2024. Then enter the amounts and calculate the depreciation expense. (Do not round intermediary calculations. Onty round she amount you input for straighe fine depreciation fo the nearest dolar.)