Question 7 (5% total) HoneyBunny, Inc. purchased a machine o…
Question 7 (5% total) HoneyBunny, Inc. purchased a machine on 1/1/2016 for $300,000. At the time of the purchase, they estimated that the machine would last 6 years and have a salvage value of $90,000. They begin depreciating the machine using the straight-line depreciation method. On 1/1/2019, they change their estimated salvage value to $50,000 and extend the useful life of the machine by 2 years. Q7: What amount of depreciation expense will HoneyBunny report (at year-end) in 2019 related to this machine?