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2. Depreciation 7 marks On March 18, 2018, Toby's Trampoline Emporium purchased several new trampolines for use in its new drop-in activity center. Since
2. Depreciation 7 marks On March 18, 2018, Toby's Trampoline Emporium purchased several new trampolines for use in its new drop-in activity center. Since the trampolines are tangible capital assets, the company will be depreciating them, using the following purchase price and management estimates: Purchase price Useful life in years Useful life in hours Residual value Actual # of hours used $ 150,000 5 5,500 $ 6,000 2018 750 2019 1,222 The company calculates partial-year depreciation using the nearest whole month method. Toby's Trampoline Emporium has a December 31 year-end. Prepare a table showing the depreciation expense for 2018 and 2019 for each of three depreciation methods: straightline, double-declining balance and units of production. Round calculations to the nearest whole number for units and dollars and to two decimal places for percentages.
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