On January 1, 2025, Vaughn Company purchased a new machine for $4190000. The new machine has an estimated useful life of nine years, and the salvage value was estimated to be $140000. Depreciation was computed using the sum-of-the-years'-digits method.

What amount should be reported on Vaughn's balance sheet at December 31, 2026, net of accumulated depreciation, for this machine?

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To calculate the accumulated depreciation for the machine at December 31 2026 using the sumoftheyear... View the full answer