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On January 1,2022 , Woodstock, Incorporated purchased a machine costing $40,800. Woodstock also paid $1,400 for transportation and installation. The expected useful life of the

On January 1,2022 , Woodstock, Incorporated purchased a machine costing $40,800. Woodstock also paid $1,400 for transportation and installation. The expected useful life of the machine is 4 years and the residual value is $5,400. f Woodstock uses the straight-line depreciation method, which of the following statements is incorrect? (A) The December 31,2022 book value is $33,000. (B) The December 31,2024 accumulated depreciation balance is $27,600. (C) The December 31,2023 book value is $18,400. (D) The annual depreciation expense is $9,200

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