Question - Sheridan Company purchased machinery with a list price of $82000. They were given a 10% discount by the manufacturer. They paid $700 for shipping and sales tax of $4400. Sheridan estimates that the machinery will have a useful life of 10 years and a residual value of $30000. If Sheridan uses straight-line depreciation, annual depreciation will be
$4380.
$4890.
$4848.
$7890.