Reference no: EM133081254
Question - On January 1, 2016, Joshua Co purchased a building and machinery that have the following useful lives, salvage value, and costs.
Building, 25-year estimated useful life, $9,000,000 cost, $900,000 salvage value
Machinery, 10-year estimated useful life, $1,200,000 cost, no salvage value
In 2021, the company decided to change the total useful life of the machinery to 8 years, with a salvage value of $60,000 at the end of that time.
The machinery is depreciated using the straight-line method.
Compute depreciation expense on the machinery for 2021.
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