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Christiansted Incorporated purchased equipment in 2021 at a cost of $800,000. The equipment was expected to produce 350,0000 units over the next six years and
Christiansted Incorporated purchased equipment in 2021 at a cost of $800,000. The equipment was expected to produce 350,0000 units over the next six years and have a residual value of $100,000. The equipment was sold for $255,750 part way through 2023. Actual production in each year is presented below. Christiansted uses units-of-production depreciation, and no depreciation has been recorded through the disposal date. | ||||||||
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