Waterway Company purchased machinery on January 1, 2020, for $95,200. The machinery is estimated to have a salvage value of $9,520 after a useful life of 8 years. (a) Your answer is correct. Compute 2020 depreciation expense using the double-declining-balance method. Depreciation expense 23800 (b) eTextbook and Media Your answer is incorrect. Attempts: 1 of 3 used Compute 2020 depreciation expense using the double-deciming-balance method, assuming the machinery was purchased on October 1, 2020. (Round answer to O decimal places, e.g. 5,125.) Depreciation expense 23800