Calculate the book value of a three year old machine that has
Calculate the book value of a three-year-old machine that has a cost of $26,000, an estimated residual value of $1,000, and an estimated useful life of 50,000 machine hours. The company uses units-of-production depreciation and ran the machine 3,200 hours in year 1; 7,050 hours in year 2; and 7,500 hours in year 3.

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