Question: Candy Co. purchased a machine on January 1, 2011, for $300,000. At the time of purchase, the machine was estimated to have a life of

Candy Co. purchased a machine on January 1, 2011, for $300,000. At the time of purchase, the machine was estimated to have a life of 8 years and a residual value of $ 10, 000 . In 2015, The company determined that the machine had a total useful life of 10 years (another 6 years left) and a residual value of $20,000 . If the company uses the straight-line method of depreciation , what will be the depreciation expense for the machine in 2015

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