Zenith corporation bought a machine on january 1 2014 in, Ask an Expert

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Zenith Corporation bought a machine on January 1, 2014. In purchasing the machine, the company paid $40,000 cash and signed an interest-bearing note for $105,000. The estimated useful life of the machine is five years, after which time the salvage value is expected to be $10,000. Given this information, how much depreciation expense would be recorded for the year ending December 31, 2015, if the company uses the sum-of-the-years'-digits depreciation method?

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