xi Company purchased a new machine on October 1, 2014, at a cost of $96,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5-year life. Instructions 96,000 Asset Cost Compute the depreciation expense under the following methods for the year indicated. Salvage Value (a) Straight-line for 2014. depreciable base how much the asset depreciates over the useful life Straight ne: Asset cost-Est. Salvage value/Number of accounting periods for estimated useful life. Asset Cost 96,000 12,000 Salvage Value useful Life 96,000 cost of the asset Depreciation per month Accumulated Depreciation Depreciation for 2014 3 months Oct-Dec Book value