Use the information for Odyssey Ltd. in BE11-5.
In BE11-5
Odyssey Ltd. purchased machinery on January 1, 2017, for $60,000. The machinery is estimated to have a residual value of $6,000 after a useful life of eight years.
(a) Calculate the 2017 depreciation expense using the sum- of-the-years'-digits method.
(b) Calculate the 2017 depreciation expense using the sum-of-the-years'-digits method, but assuming the machinery was purchased on April 1, 2017.