Question: please show work madison corporation acquired a machine for 32000...
(Please show work)
Madison Corporation acquired a machine for $32,000 and has recorded depreciation for two years using thestraight-line method over a five-year life and $9,000 residual value. At the start of the third year of use, Madison revised the estimated useful life to a total of 10 years. Estimated residual value declined to $0.How much depreciation should Madison record in each of the asset's last eight years (that is, year 3 through year 10), following the revision?