A company is planning to purchase a new machine for $50,000 in the tax year 2022. The

Fantastic news! We've Found the answer you've been seeking!

Question:

A company is planning to purchase a new machine for $50,000 in the tax year 2022. The machine has an estimated useful life of 5 years and no salvage value. The company plans to use the straight-line method to calculate depreciation. The tax rate for the company is 21%. Calculate the company's depreciation expense and tax savings for the year 2022.