On August31, 2017, FoleyDistributionService purchased a copy machine for $37,500. FoleyDistributionService expects the machine to last for three years and to have a residual value of $1,500. Compute depreciation expense on the machine for the year ended December31, 2017, using thestraight-line method.

On August 31, 2017, Foley Distribution Service purchased a copy machine for $37,500. Foley Distribution Service expects the machine to last for three years and to have a residual value of $1,500. Compute depreciation expense on the machine for the year ended December 31, 2017, using the straight-line method. Begin by selecting the formula to calculate the company's depreciation expense on the machine for the year ended December 31, 2017. Then enter the amounts and calculate the depreciation expense. (Abbreviation used: Acc. = accumulated. Do not round intermediary calculations. Only round the amount you input for straight-line depreciation to the nearest dollar.) Straight-line 1 * ( + 12 ) = depreciation 1 1 X ( + 12 ) =