20. On January 1, 2018, Tyson Manufacturing Corporation purchased a machine for 40,000,000. Tyson'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 $47,000 The machine was used for 4000 hours in 2018 and 5500 hours in 2019. What is the depreciation expense for 2018 if the corporation uses the units-ofproduction method of depreciation? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $4,842,800 B) $13,333,333 C) $6,658,850 D) $4,848,480 21. The cost of an asset is $1,110,000, and its residual value is $110,000. Estimated useful life of the asset is eight years. Calculate depreciation for the second year using the double-declining-balance method of depreciation. (Do not round any intermediate calculations and round your final answer to the nearest dollar.) A) $138,750 B) $125,000 C) $250,000 D) $208,125 22. Brandy Enterprises discarded a computer that was fully depreciated and had no residual value. As a result of this transaction, Brandy will A) report a loss equal to the historical cost of the computer B) Debit the Computer account and credit the Accumulated Depreciation Computer account C) Debit the Accumulated Depreciation Computer account; debit Loss on Disposal of Computer account, and credit the Computer account D) zero out the Computer and Accumulated Depreciation Computer accounts 23. On July 1, 20X8, your company borrowed $20,000 on a four-year, 6% note payable. At December 31, 20X8, a journal entry should be made to record A. a note payable of $20,000 B. interest payable of $1,200 C. interest payable of $600 D. cash payment of $1,200