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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?

  1. Double-declining-balance method:
  2. Year one, $______________.
  3. Year two, $______________.

  1. 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):
  2. Year one, $______________.
  3. Year two, $______________.

  1. Sum-of-the-years'-digits method:
  2. Year one, $______________.
  3. Year two, $______________.

  1. Straight-line depreciation method:

  1. Year one, $______________.

b.Year two, $______________.

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