Carleton Corporation purchased machinery on October 1, 2019, at a total cost of $98,000. The estimated residual value is $8,000, estimated life of the machinery is 6 years or 50,000 hours. During 2019 and 2020, the machinery was used for 1,400 and 8,760 hours, respectively.

Compute depreciation under straight-line, units-of-production, and double-diminishing-balance methods for 2019 and 2020.

Answer rating: 100% (QA)

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