Question: . Duluth Ranch, Incorporated, purchased a machine on January 1 , 2 0 2 1 . The cost of the machine was $ 3 4

. Duluth Ranch, Incorporated, purchased a machine on January 1,2021. The cost of the machine was $34,000. Its estimated residual value was $10,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 2,500 units in 2021 and 3,200 units in 2022.
Required:
a. Calculate depreciation expense for 2021 and 2022 using the straight-line method.
b. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method.
c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method.

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