Refer to the information for Cox Inc. above. What amount would Cox record as depreciation expense at December 31, 2012, if the double-declining-balance method were used?
Cox Inc. acquired a machine for $600,000 on January 1, 2011. The machine has a salvage value of $10,000 and a five-year useful life. Cox expects the machine to run for 15,000 machine hours. The machine was actually used for 4,800 hours in 2011 and 3,150 hours in 2012.