Problem: Marina Landscape purchased a new machine on October 1, 2022, at a cost of $91,360. The company estimated that the machine has a salvage value of $8,000. The machine is expected to be used for 71,360 working hours during its 8-year life.
Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end.
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