Vaughn Company purchased machinery on January 1, 2020, for $92,000. The machinery is estimated to have a salvage value of $9,200 after a useful life of 8 years. Your answer is incorrect. Compute 2020 depreciation expense using the straight-line method. Depreciation expense eTextbook and Media 2. Your answer is incorrect. Compute 2020 depreciation expense using the straight-line method assuming the machinery was purchased on September 1 , 2020. Depreciation expense $