P purchased a machine on January 1, 2026 for $51902
At the time of purchase, the machine was expected to have a useful life of 23 years and a residual value of $4152
P uses straight-line depreciation
At the beginning of 2036, P estimated the machine had a remaining useful life of 17 years with no residual value.
Use this information to determine which of the answers are correct (more than one answers may be correct).
✔The depreciation expense for the year ending December 31, 2036: $1821.83
The carrying value of the machine on January 1, 2036: $31151.1
The carrying value of the machine on December 31, 2052: $0
The depreciation expense for the year ending December 31, 2036: $1851.83
✔The depreciation expense for the year ending December 31, 2026: $2076.09
The carrying value of the machine on December 31, 2052: $20
The carrying value of the machine on January 1, 2036: $31161.1
The carrying value of the machine on December 31, 2052: $10