Wildhorse 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. Wildhorse intends to use the machine for only 8 years, however, after which it expects to be able to sell it for $2,040. The invoice for Machine \#201 was paid May 5,2020 . Wildhorse uses the calendar year as the basis for the preparation of financial statements. Wildhorse 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. Wildhorse intends to use the machine for only 8 years, however, after which it expects to be able to sell it for $2,040. The invoice for Machine \#201 was paid May 5,2020 . Wildhorse uses the calendar year as the basis for the preparation of financial statements