Oriole Company purchased a new machine on October 1, 2022, at a cost of $68,880. The company estimated that the machine has a salvage value of $5,940. The machine is expected to be used for48,880working hours during its6-year life.

Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end.(Round answers to 2 decimal places, e.g. 5,275.25.)

2022

2023

The depreciation expense under the straight-line method

$Enter a dollar amount for year 2022

$Enter a dollar amount for year 2023