Question: please help need depreciation expense, double declining balance, and activity based Required information Exercise 7-10 (Algo) Determine depreciation for the first year under three methods
Required information Exercise 7-10 (Algo) Determine depreciation for the first year under three methods (LO7-4) [The following information applies to the questions displayed below] On January 1, Pandemic Groceries purchased store equipment for $41,500. Pandemic estimates that at the end of its 10 . year service life, the equipment will be worth $3,500. During the 10-year period, the company expects to use the equipment for a total of 10,000 hours. Pandemic used the equipment for 1.250 hours the first year. Required: Calculate depreciation expense of the equipment for the first year, using each of the following methods. (Do not round your intermediote calculations.)
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