15.8. A machine was purchased for $28,000 and had an estimated scrap value of $4,000 and an...

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15.8. A machine was purchased for $28,000 and had an estimated scrap value of $4,000 and an estimated life of 32,000 hours. What would the year-end entry be if the units-of-production method was used, and it was used 7,200 hours in the first year of operation?

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