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A high-speed multiple-bit drill press costing $1,080,000 has an estimated salvage value of $90,000 and a life of ten years. What is the annual depreciation
A high-speed multiple-bit drill press costing $1,080,000 has an estimated salvage value of $90,000 and a life of ten years. What is the annual depreciation for each of the first two full years under the following depreciation methods?
- Double-declining-balance method:
- Year one, $______________.
- Year two, $______________.
- Units of production (activity) method (lifetime output is estimated at 110,000 units; the press produced 12,000 units in year one and 18,000 in year two):
- Year one, $______________.
- Year two, $______________.
- Sum-of-the-years'-digits method:
- Year one, $______________.
- Year two, $______________.
- Straight-line depreciation method:
- Year one, $______________.
b.Year two, $______________.
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