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Concord Company purchased a new machine on October 1, 2020, at a cost of $114,800....

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Accounting

Concord Company purchased a new machine on October 1, 2020, at a cost of $114,800. The company estimated that the machine will have a salvage value of $14,800. The machine is expected to be used for 10,000 working hours during its 4-year life.

(a)

Compute the depreciation expense under straight-line method for 2020. (Round answer to 0 decimal places, e.g. 2,125.)

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