On January 1, 2015, Zade Manufacturing Corporation purchased a machine for $40,000,000. The Corporation expects...
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On January 1, 2015, Zade Manufacturing Corporation purchased a machine for $40,000,000. The Corporation expects to use the machine for 24,000 hours over the next 6 years. The estimated sale value of the machine at the end of the sixth year is $40,000. The corporation used the machine for 3,600 hours in 2015 and 5,000 hours in 2016. Calculate the depreciation expense for the year 2015 if the company uses the units-of-production method of depreciation.
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