On January 1, 2014, the Garden Company purchased a new machine for $2,800,000. The new machine has an estimated useful life of nine years, and the salvage value was estimated to be $100,000. Depreciation was calculated using the sum-of-years-digits method. 

What amount should be shown on Garden's balance sheet as of December 31, 2015, net of accumulated depreciation, for this machine?

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To calculate the depreciation expense for the first year we need to find the d... View the full answer