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On January 1,2017, Blizzard Manufacturing Corporation purchased a machine for $40,000,000. The corporation expects to...

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Accounting

On January 1,2017, Blizzard Manufacturing Corporation purchased a machine for $40,000,000. The corporation expects to use the machine for 24,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $40,000. The corporation used the machine for 3,600 hours in 2017 and 5,000 hours in 2018. What is the depreciation expense for 2017 and 2018 if the corporation uses the double-declining-balance method of depreciation?

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