Question 3 of 7 0/1 TII View Policies Show Attempt History Current Attempt in Progress Swifty Company purchased machinery on January 1, 2020, for $82,400. The machinery is estimated to have a salvage value of $8,240 after a useful life of 8 years. X Your answer is incorrect. Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2020 Depreciation expense $ 9270 e Textbook and Media Save for Later Attempts: 3 of 4 used Submit Answer Question 4 of UT !! View Policies Show Attempt History Current Attempt in Progress Whispering Company purchased a new plant asset on April 1, 2020, at a cost of $744,000. It was estimated to have a service life of 20 years and a salvage value of $51,000. Whispering accounting period is the calendar year. (b) X Your answer is incorrect. Compute the depreciation for this asset for 2020 and 2021 using the double-declining balance method. (Round answers to O decimal places, e.g. 45,892.) Depreciation for 2020 $ 51,975 Depreciation for 2021 $ 64,103 e Textbook and Media Save for Later Attempts: 1 of 4 used Submit