Partial-Year Depreciation When a plant asset is acquired during the year, depreciation is calculated for the fraction of the year the asset is owned. Question: Assume our machinery was purchased on October 8, 2014 at a cost of $10,000. The salvage value is $1000 and the useful life is 5 years. Calculate the depreciation expense for December 31, 2014 using the straight-line method.

Depreciation in Any Period = ((Cost - Salvage) / Life)?? but what do you do with the months, October and December ??