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Sheridan Company purchased a machine on July 1, 2021, for $29,960. Sheridan paid $214 in title fees and county property tax of $134 on the
Sheridan Company purchased a machine on July 1, 2021, for $29,960. Sheridan paid $214 in title fees and county property tax of $134 on the machine. In addition, Sheridan paid $535 shipping charges for delivery, and $508 was paid to a local contractor to build and wire a platform for the machine on the plant floor. The machine has an estimated useful life of 6 years with a salvage value of $3,210 Determine the depreciation base of Sheridan's new machine. Sheridan uses straight-line depreciation Depreciation base
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