ABC Inc. purchased a machine for $200,000 on January 1, 2020. The machine has an estimated useful life of 10 years and a residual value of $20,000. ABC Inc. uses straight-line depreciation. On December 31, 2022, ABC Inc. discovered that the machine had been damaged and the cost of repairs is $50,000. The company expects to use the machine for another 5 years after the repairs are made. Compute the following:

a) The book value of the machine as of December 31, 2022, before considering the repairs.
b) The book value of the machine as of December 31, 2022, after considering the repairs.
c) The depreciation expense for the year ended December 31, 2023.

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