208-WH 26447 - ACCOUNTING PRINCIPLES At the beginning of the year, MidState Marketplace, which processes and packs vegetables for customers, purchases for $8.500 a new conveyor that it will depreciate under the units of production method. The equipment is expected to process 65.000 pounds of vegetables and has a salvage value of $2.000, A. What is the depreciation rate? B. If MidState processes 20,000 pounds of vegetables in the first year, what is the first year's depreciation? C. If this was MidState's only asset, what adjusting journal entry would it record at the end of the first year? A- B 1 F