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On August 1, 2020, Swifty Corporation purchased a new machine for its assembly...

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Accounting

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On August 1, 2020, Swifty Corporation purchased a new machine for its assembly process at a cost of $147,600. The company estimated that the machine would have a trade-in value of $14,400 at the end of its useful life. Its useful life was estimated to be six years and its working hours were estimated to be 15,000 hours. Swifty's year end is December 31. Calculate the depreciation expense under capital cost allowance method for 2020 and 2021 using a CCA rate of 25%. (Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 5,275.) Depreciation expense for 2020 $ Depreciation expense for 2021 $

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