Splish Company purchased Machine #$201$ on May $1,2020.$ The following information relating to Machine #$201$ was gathered at the

end of May.

It is expected that the machine could be used for $10$ years, after which the salvage value would be zero. Splish intends to use the

machine for only $8$ years, however, after which it expects to be able to sell it for $$2,220.$ The invoice for Machine #$201$ was paid May $5,$

Splish uses the calendar year as the basis for the preparation of financial statements.