What is depreciation expense for the first year of the asset, Financial Accounting

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What is depreciation expense for the first year of the asset

Problem

On May1, Crane Company purchased factory equipment for $763600. The asset's useful life in hours is estimated to be $197000. The estimated salvage value is $49000 and the estimated useful life in years is 9. The machine was used for 26000 hours in the first year. If the straight-line method will be used, what is depreciation expense for the first year of the asset's life?

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Financial Accounting: What is depreciation expense for the first year of the asset

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Financial Accounting: What is depreciation expense for the first year of the asset

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