On April 1, 2014, Dana Ltd. Purchased a new machine that has a list price of $33,600. Dana Ltd. Paid cash of $10,000 and executed a one-year non-interest-bearing note for the $23,600 balance. The going rate of interest was 18 percent. Assume straight-line amortization with an estimated useful life of 6 years and a $1,200 estimated residual value. The Accumulated Amortization balance for the accounting year ending December 31, 2015, would be $___________________.

Please consider the present value of the machine