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How much depreciation should they recognize in first year

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Question - CVN corp purchases a new machine. The machine costs $10000. They incur another $1000 to boot the machine into the floor and connect it to their electrical system. The machine will last for 8 years, but CVN plans to use it for 4 years and then upgrade to a more efficient item (energy standard continue to get better for these machines). At the end of the 4 years, CVN believe they bill be able to sell the item for $3000. CVN uses straight line depreciation for all items. How much depreciation should they recognize in the first year?

Reference no: EM132624905

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