On January 1, 2018, Sport Planes Manufacturing Corporation purchased a machine for $40,000,000. The corporation expects to use the machine for 24,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $40,000. The corporation used the machine for 3,600 hours in 2018 and 5,000 hours in 2019. What is the book value of the machine at the end of year 2019 if the corporation uses double-declining-balance method of depreciation? (Round your intermediate calculations.)

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The Answer of On January 1, 2018, Sport Planes Manufacturing Corporation purchased a machine for $40,000,000. The corporation expects to use the machine for 24,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $40,000. The corporation used the machine for 3,600 hours in 2018 and 5,000 hours in 2019. What is the book value of the machine at the end of year 2019 if the corporation uses double-declining-balance method of depreciation? (Round your intermediate calculations.)

On January 1, 2018, Sport Planes Manufacturing Corporation Purchased a Machine