Swifty Company purchased machinery on January 1, 2020, for $82,400. The machinery is estimated to have a salvage value of $8,240 after a useful life of 8 years.

Incorrect answer iconYour answer is incorrect.

Compute 2020 depreciation expense using the straight-line method.

Depreciation expense

$enter depreciation expense in dollars

eTextbook and Media

Incorrect answer iconYour answer is incorrect.

Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2020.

Depreciation expense

$enter depreciation expense in dollars