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At the beginning of Year 1, Hogan Manufacturing Company purchased a machine for $250,000 and...

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Accounting

At the beginning of Year 1, Hogan Manufacturing Company purchased a machine for $250,000 and made the following estimates at that time: Estimated residual value of $10,000. Estimated service life of 5 years. The machine was disposed of after five years of use. The company uses the sum-of-the-years'-digits depreciation method to determine the depreciation expense. How much depreciation expense should the company recognize in Year 3? $50,000 $46,000 $48,000 $52,000

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