1.On June 30, Year 1, Melon Corp. purchased a printer for $50,000. It expects the printer to last for four years and have a residual value of $5000. Compute the depreciation expense on the printer for the year ended December 31, Year 1, using the straight-line method.

A.$11,250

B.$6563

C.$12,500

D.$5625

2.The cost of an asset is $1,140,000, and its residual value is $260,000. Estimated useful life of the asset is ten years. Calculate depreciation for the first year using the double-declining-balance method of depreciation.

A,$114,000

B.$228,000

C.$88,000

D.$176,000

3.On January 1, Year 1, Grapefruit Corporation purchased a machine for $40,400,000. Grapefruit's management expects to use the machine for 33,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $41,000. The machine was used for 4100 hours in Year 1 and 5900 hours in Year 2. What is the depreciation expense for Year 1 if the corporation uses the units-of-production method of depreciation?

A.$13,466,667

B.$5,019,384

C.$5,014,300

D.$7,215,700