Sheridan Co. purchased machinery that was installed and ready for use on January 3, 2025 at a total cost of $238000. The salvage value was estimated at $32000. The machinery will be depreciated over five years using the double-declining balance method. For the year 2026, Sheridan should record depreciation expense on this machinery of O $57120. $49440. O $62240. O $95200.

Sheridan Co, purchased machinery that was installed and ready for use on fanuary 3,2025 at a total cost ol \$238000. The salvage value was estimated at $32000. The machinery will be depreciated over five years using the double declining balance method. For the vear 2026. Sheridan should record depreciation expenseon this machinery of $57120. $49440. $62240. $95200