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Determine the amount of depreciation expense recorded by Porter Company for the equipment in both...

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Accounting

Determine the amount of depreciation expense recorded by Porter Company for the equipment in both 2020 and 2021.
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Porter Company uses straight-line depreciation for its equipment. On January 1, 2015, Porter purchased a new piece of equipment for $168,000 cash. The equipment's estimated useful life was ten years with $15,000 salvage value. - In 2020, the company decided the equipment's original useful life estimate should be increased by five years. Beginning in 2020, depreciation was based on a 15 -year fotal useful life and no change was made in the salvage value estimate. - On January 1, 2021, Porter added a modification to the equipment that increased its productivity at a cost of $21,100 cash. These modifications did not change the equipment's useful life but did increase the estimated salvage value by $4,000. Determine the amount of depreciation expense recorded by Porter Company for the equipment in both 2020 and 2021. 2020 Depreciation Expense 2021 Depreciation Expense

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