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Swifty Company purchased a new machine on October 1,2020 , at a cost of $112,400....

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Accounting

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Swifty Company purchased a new machine on October 1,2020 , at a cost of $112,400. The company estimated that the machine will have a salvage value of $12,400. The machine is expected to be used for 10,000 working hours during its 5 -year life. (a) Your answer is correct. Compute the depreciation expense under straight-line method for 2020. (Round answer to 0 decimal places, e.8. 2,125.) Compute the depreciation expense under units-of-activity for 2020 , assuming machine usage was 1,500 hours. (Round intermediate calculations to 1 decimal place, e.g.10.1 and final answer to 0 decimal places, eg. 2,125.)

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