1. Equipment with a cost of $166,326 has an estimated residual value of $9,046 and an estimated life of 3 years or 12,421 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,539 hours?

2.On June 8, Williams Company issued an $80,000, 5%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note?

3.