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62. Bing Corporation purchases a new shoe machine costing $26,000. The machine has an estimated life of 50,000 units with a residual value of $2,000.

62. Bing Corporation purchases a new shoe machine costing $26,000. The machine has an estimated life of 50,000 units with a residual value of $2,000. In the first two years, production was 4,000 and 7,000, respectively. What is the depreciation expense for each of the two years, assuming Bing uses the units-of-production method

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