On january 1, year 1, a company purchases a machine for $18,000. the estimated residual value is $6,000, and the estimated service life is 8 years or 30,000 units. after three years of use, the company estimates the remaining service life of the machine to be nine years rather than the original eight. using the straight-line method, calculate the amount of depreciation for year 4.

On january 1, 2017, pharoah company issued 10-year, $2,020,000 face value, 6% bonds, at par. each $1,000 bond is convertible into 16 shares of pharoah common stock. pharoah’s net income in 2017 was $317,000, and its tax rate was 40%. the company had 97,000 shares of common stock outstanding throughout 2017. none of the bonds were converted in 2017. (a) compute diluted earnings per share for 2017. (round answer to 2 decimal places, e.g. $2.55.) diluted earnings per share