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Santa's Gift Corp purchased a gift-wrapping machine on 1/1/18 for $71,000. Santa's originally depreciated the machine over a life of 10 years using straight-line depreciation
Santa's Gift Corp purchased a gift-wrapping machine on 1/1/18 for $71,000. Santa's originally depreciated the machine over a life of 10 years using straight-line depreciation with salvage of $3,400, but on 1/1/22 Santa realized that the machine was aging fast and was impaired. Now the machine only has a useful life of 2 years remaining with the same salvage value. If Santa continues to use the straight-line depreciation method, what amount of depreciation would be recorded for 2022? O $20.280 $44.875 O $20.938 O $40,560
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