Problem:
Tillman Company owns a machine that was bought on January 2, 2005, for $376,000. The machine was estimated to have a useful life of five years and a salvage value of $24,000. Tillman uses the sum-of-the-years'-digits method of depreciation.
At the beginning of 2008, Tillman determined that the useful life of the machine should have been four years and the salvage value $35,200.
For the year 2008, Tillman should record depreciation expense on this machine of?