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A machine acquired on February 28 with a cost of $65,000 has an estimated residual value of $5,000 and an estimated life of 5
A machine acquired on February 28 with a cost of $65,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-production method. The machine was used 3,000 hours the first year and 4,000 hours the second year. What is the amount of depreciation expense for the second year?
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