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Concord Company purchased a new machine on October 1, 2022, at a cost of $115,900....

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Accounting

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Concord Company purchased a new machine on October 1, 2022, at a cost of $115,900. The company estimated that the machine will have a salvage value of $13,900. The machine is expected to be used for 10,000 working hours during its 5 -year life. Compute the depreciation expense under declining-balance using double the straight-line rate for 2022 and 2023. (Round fina answers to 0 decimal places, e.g. 2,125.)

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