Question 6 of 6 View Policies Show Attempt History Current Attempt in Progress 0.5/1 On August 1, 2023, Cheyenne Corporation purchased a new machine for its assembly process at a cost of $126,000. The company estimated that the machine would have a trade-in value of $14,400 at the end of its useful life. Its useful life was estimated to be six years and its working hours were estimated to be 15,000 hours. Cheyenne's year end is December 31. (a) Your answer is correct. Calculate the depreciation expense under straight-line method for 2023. (Do not round intermediate calculations. Round final answer to O decimal places, eg. 5,275.)