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Question 5 2.5pts Linty Company purchased a new machine on January 1,2024 for...

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Accounting

Question 5
2.5pts
Linty Company purchased a new machine on January 1,2024 for $280,000. On this date, the machine was estimated to have a life of six years and a residual value of $7,000.
Assume Linty Company depreciates its assets using the sumof-the-years'-digits method of depreciation.
On January 1,2027, Linty Company changed the life of the machine from 6 to 11 years with a residual value of $4,000 at the end of the 11 years.
Calculate the amount of depreciation expense recorded on the machine in 2028.
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