Yorkton Supply Company purchased equipment worth $$52,332$ on December $1,2023.$ The equipment should have an estimated life of $8$ years or $16,830$ hours. Residual value is estimated to be $$7,800.$ Calculate the depreciation expense under both the Straight$-$Line and Double$-$Declining Balance methods for the first four years of the use of the asset. The company's fiscal year ends June $30,2024.$ Show all calculations, round dollar values to the nearest dollar $($units of production depreciation rate, round to $3$ decimals$)$

Answer rating: 100% (QA)

Lets break down the depreciation calculations for the equipment using both the StraightLine and Doub... View the full answer