Question: Current Attempt in Progress Ivanhoe Company purchased a new machine on October 1, 2022, at a cost of $68,220. The company estimated that the machine

Current Attempt in Progress Ivanhoe Company purchased a new machine on October 1, 2022, at a cost of $68,220. The company estimated that the machine has a salvage value of $6,540. The machine is expected to be used for 70,400 working hours during its 6-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, es. 5,275.25.) 2022 The depreciation expense under the straight-line method 2023 e Textbook and Media Save for later Attempts:0 of 10 used

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