Question: need help asap! Problems (18 points each) 1. Elppa Company purchased a machine on January 2,2021 . The total cost of the purchase was $375,000.

need help asap! need help asap! Problems (18 points each) 1. Elppa Company purchased

Problems (18 points each) 1. Elppa Company purchased a machine on January 2,2021 . The total cost of the purchase was $375,000. The machine has an estimated salvage value of $25,000 and an estimated useful life of 6 years. In June of 2022 , the company spent $12,000 to replace the gasoline-powered engine with an electric engine; this changed the estimate of the machine's total useful life to 13 years. Depreciation for 2021 was recorded before the overhaul. Show calculations for the annual straight-line depreciation amounts for this asset for 2021 through 2023 . Data is on tab TP1M in the spreadsheet

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