Question: Problem - Depreciation Duluth Ranch, Inc. purchased a machine on January 1, 2018. The cost of the machine was $34,000. Its estimated residual value was

Problem - Depreciation Duluth Ranch, Inc. purchased a machine on January 1, 2018. 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 2018 and 3,200 units in 2019. Required: A. Calculate depreciation expense for 2018 and 2019 using the straight-line method. B. Calculate depreciation expense for 2018 through 2022 using the double-declining balance method

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