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also need to find sum-of-the-Year's-Digits Method and Double-Declining-Balance method for the 5 years On January 1, 2023, a machine was purchased for $100,000. The machine
also need to find sum-of-the-Year's-Digits Method and Double-Declining-Balance method for the 5 years
On January 1, 2023, a machine was purchased for $100,000. The machine has an estimated salvage value of $6,400 and an estimated useful life of 5 years. The machine can operate for 104,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2023,20,800 hours; 2024, 26,000 hours; 2025, 15,600 hours; 2026, 31,200 hours; and 2027,10,400 hours. (a) Compute the annual depreciation charges over the machine's life assuming a December 31 year-end for each of the following depreciation methods. (Round rate per hour to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 45,892.) Step by Step Solution
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