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Gotham Company purchased a new machine on October 1, 2022, at a cost of $...

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Accounting

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Gotham Company purchased a new machine on October 1, 2022, at a cost of $ 90,000. The company estimated that the machine has a salvage value of $ 8,000. The machine is expected to be used for 70,000 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to O decimal places, e.g. 5,275.) 2022 2023 The depreciation expense under the straight-line method $ 7687.5 10250

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