View Policies Current Attempt in Progress Acompany buys an oil ris for $2800000 on January 1, 2021. The life of the rigtis 10 years and the expected cost to dismantle the rig at the end of 10 years is 5600000 (present value at 10% is $2313301. 10% is an appropriate interest rate for this company. What expere should be recorded for 2021 as a result of these events? O Depreciation expense of S340000 Depreciation expense of $280000 and interest expense of $29133 O Depreciation expense of S280000 and interest expense of $60000 Depreciation expense of $303133 and interest expense of $23133 eTextbook and Media Attempts: 0 of 1 used Submit Answer Sove for Later 9 View Policies Current Attempt in Progress During 2019, Sheridan Company introduced a new line of machines that carry a three-year warranty against manufacturer's defects. Based on industry experience, warranty costs are estimated at 2% of sales in the year of sale, 3% in the year after sale, and 4% in the second year after sale. Sales and actual warranty expenditures for the first three-year period were as follows: (assume the accrual method) Actual Warranty Expenditures Sales 2019 $1601000 $40000 2020 2498000 66000 2021 2093000 134000 56192000 $240000 What amount should Sheridan report as a liability at December 31, 2021? OSO $69960 $83720 $317280