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7. A company purchased machinery that cost $510,000. It is estimated that the machine will be operated for 100,000 hours over its useful life and

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7. A company purchased machinery that cost $510,000. It is estimated that the machine will be operated for 100,000 hours over its useful life and have a residual value of $10,000. Required: a) What is the rate of depreciation per hour? b) Journalize the entry for annual depreciation if the machine had been operated for 22,000 hours

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