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Pharoah Company purchased a new machine on October 1, 2022, at a cost of $91,360. The company estimated that the machine has a salvage value

Pharoah Company purchased a new machine on October 1, 2022, at a cost of $91,360. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 70,200 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 0 decimal places, e.g. 5,275.)

2022

2023

The depreciation expense under the straight-line method

$enter a depreciation expense rounded to 0 decimal places

$enter a depreciation expense rounded to 0 decimal places

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