Suppose the printing department of Geico Insurance acquired a new
Suppose the printing department of Geico Insurance acquired a new press for $360,000. The equipment’s estimated useful life is 8 years and estimated residual value is $40,000.
Prepare a depreciation schedule similar to Exhibit, comparing straight-line and DDB depreciation. Show all amounts in thousands of dollars (rounded to the nearest tenth). Limit the schedule to the first 3 years of useful life. Show the depreciation for each year and the book value at the end of eachyear.
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