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On January1, 2018, Tyson Manufacturing Corporation purchased a machine for$41,100,000. Tyson's management expects to use the machine for32,000 hours over the next six years. The
On January1, 2018, Tyson Manufacturing Corporation purchased a machine for$41,100,000. Tyson's management expects to use the machine for32,000 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 for4,000 hours in 2018 and6,000 hours in 2019. What is the depreciation expense for 2018 if the corporation uses theunits-of-production method ofdepreciation? (Round any intermediate calculations to two decimalplaces, and your final answer to the nearestdollar.)
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