Question
On January1, 2024, McHenry Manufacturing Corporation purchased a machine for$40,200,000. McHenry's management expects to use the machine for24,000 hours over the next six years. The
On January1, 2024, McHenry Manufacturing Corporation purchased a machine for$40,200,000. McHenry's management expects to use the machine for24,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is$49,000. The machine was used for4,000 hours in 2024 and5,800 hours in 2025. Calculate the book value of the machine at the end of 2025 if the company uses the unitsofproduction method of depreciation.(Round any intermediate calculations to two decimalplaces, and your final answer to the nearestdollar.)
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