equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of $10,000. compute the depreciation

Project Description:

problem 10-6

equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of $10,000.

compute the depreciation for the first and second years of use by each of the following methods.

a. straight-line:
first year $
second year $

b. units-of-production (1,200 hours first year; 2,250 hours second year):
first year $
second year $

c. declining-balance at twice the straight-line rate:
first year $
second year $
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