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On January 1, 2018, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's management expects to use the machine for 33,000 hours over the
On January 1, 2018, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's management expects to use the machine for 33,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $47,000. The machine was used for 4,000 hours in 2018 and 5,500 hours in 2019. What is the depreciation expense for 2018 if the corporation uses the units-of-production method of depreciation? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) OA. $6,658,850 OB. $4,848,480 OC. $13,333,333 OD. $4,842,800
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