On January 1, 2015, Nathan, Inc. purchased a machine for $56,000. Eight-year, straight-line depreciation with...
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Accounting
On January 1, 2015, Nathan, Inc. purchased a machine for $56,000. Eight-year, straight-line depreciation with no salvage value was used through December 31, 2016. On January 1, 2017, it was estimated that the total useful life of the machine from acquisition date was ten years. Refer to Exhibit 22-2. Accordingly, the appropriate accounting change was made in 2017. How much depreciation expense for this machine should Nathan record for the year ended December 31, 2017?
$4,200
$5,250
$7,000
$ 0
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