Question: On January 1 , 2 0 2 3 , George Brown College purchased equipment for $ 6 0 , 0 0 0 . It was

On January 1,2023, George Brown College purchased equipment for $60,000. It was expected to last 5 years, after which it will be sold for $5,000. It is expected to be used for a total of 10,000 machine hours, and was used for 750 hours during the year ended December 31,2023.
(a) Please calculate the depreciation expense for the end of 2023 using the straight-line method.
(b) Please calculate the depreciation expense for the end of 2023 using the units-of-production method.
(c) Please calculate the depreciation expense for the end of 2023 using the double diminishing-balance method.

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