On January 1, Year 1, Ours Corp. purchased a machine for $200,000. The machine was depreciated using the straight-line method over a 8 -year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Ours's Year 1 financial statements, resulting in a $20,000 overstatement of the book value of the machine on December 31, Year 1. The oversight was discovered during the preparation of Ours's Year 2 financial statements. What amount should Ours report for depreciation expense on the machine in the Year 2 financial statements? \begin{tabular}{l} $20,000 \\ $18,000 \\ \hline 40,000 \\ $22,000 \end{tabular} On January 1, Year 1, Ours Corp. purchased a machine for $200,000. The machine was depreciated using the straight-line method over a 8 -year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Ours's Year 1 financial statements, resulting in a $20,000 overstatement of the book value of the machine on December 31, Year 1. The oversight was discovered during the preparation of Ours's Year 2 financial statements. What amount should Ours report for depreciation expense on the machine in the Year 2 financial statements? \begin{tabular}{l} $20,000 \\ $18,000 \\ \hline 40,000 \\ $22,000 \end{tabular}