Pharoah Company purchased a new machine on October 1, 2025, at a cost of $91,360. The company estimated that the machine has a salvage value of $7,840. The machine is expected to be used for 71,360 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2025 and 2026, assuming a December 31 year-end.

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Pharoah Company purchased a new machine on October 1, 2025, at a cost of $91,360. The company estimated that the machine has a
salvage value of $7,840. The machine is expected to be used for 71,360 working hours during its 8-year life.
Compute the depreciation expense under the straight-line method for 2025 and 2026, assuming a December 31 year-end.
2025
Depreciation expense under the straight-line method
$
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$
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Transcribed Image Text:Pharoah Company purchased a new machine on October 1, 2025, at a cost of $91,360. The company estimated that the machine has a salvage value of $7,840. The machine is expected to be used for 71,360 working hours during its 8-year life. Compute the depreciation expense under the straight-line method for 2025 and 2026, assuming a December 31 year-end. 2025 Depreciation expense under the straight-line method $ eTextbook and Media Save for Later 2026 $ Attempts: 0 of 12 used Submit Answer
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