M$9-7($Static$)$ Computing Book Value $($Units$-$of$-$Production Depreciation$)[$LO $9-3]$

A machine that cost $$400,000$ has an estimated residual value of $$40,000$ and an estimated useful life of $20,000$ machinehours. The company uses units$-$of$-$production depreciation and ran the machine $3,000$ hours in Year $1,8,000$ hours in Year $2,$ and $6,000$ hours in Year $3.$

Required:

Calculate its book value at the end of Year $3.$

vote: Do not round intermediate calculations.

Answer is complete and correct.

Book Value

$ $94,000$