On january 1, 2015, Emming Corporation purchased some machinery, The machinery has an estimated life of 10 years and an estimated residual value of $5,000. The depreciation expense on this machinery was $20,000 in 2017.
Required:
Next Level compute the acquisition cost of the equipment under the following depreciation methods:
1. Straight- line
2. Sum-of the –years’digits
3. Double-declining-balance