On August 1, 2017, Iroko Corporation purchased a new machine for its assembly process. The cost of

Question:

On August 1, 2017, Iroko purchased a new machine for its assembly process. The cost of this machine was $136,400. The company estimated that the machine would have a trade-in value of $14,200 at the end of its useful life. Its useful life was estimated to be six years and its working hours were estimated to be 18,000 hours. Iroko's year end is December 31. (Round depreciation per unit to three decimal places.) Iroko prepares its using IFRS.
Instructions
Calculate the depreciation expense under each of the following:
(a) Straight-line method for 2017
(b) Activity method for 2017, assuming that machine use was 800 hours
(c) Double-declining-balance method for 2017 and 2018
(d) Capital cost allowance method for 2017 and 2018 using a CCA rate of 25%
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