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Manna Manufacturing purchased a machine on January 1, 2015, for $42,750. At the time of purchase, the machine was estimated to have a life of four…

Manna Manufacturing purchased a machine on January 1, 2015, for $42,750. At the time of purchase, the machine was estimated to have a life of four years and a residual value of $7,750. On January 1 2017, Manna determined that the machine had a total useful life of seven years (another five years left) and a residual value of $4,500. If Manna uses the straight-line method of depreciation, what will be the depreciation expense for the machine in 2017?

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Manna Manufacturing purchased a machine on January 1, 2015, for $42,750. At the time of purchase, the machine was estimated to have a life of four…
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a. $4,150

b. $2,600

c. $6,800

d. $5,900

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