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Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is

image text in transcribedimage text in transcribed Computing Partial Period Depreciation under Multiple Depreciation Methods To demonstrate the computations involved in several methods of depreciating a fixed asset, the following information is provided. Required Compute the annual depreciation using each of the following methods assuming that the asset was purchased on August 1 of the current year. a. Straight-line depreciation: Compute the annual depreciation rate and amount for each year. Carry all decimals in calculations; round final answers to the nearest dollar. b. Units-of-production method using service hours as a measure of input: Compute the depreciation rate and amount for the first partial year assuming 540 service hours of actual operation d. Sum-of-the-years'-digits method: Compute the depreciation amount for each year. Carry all decimals in calculations; round final answers to the nearest dollar. e. Double-declining-balance method: Compute the depreciation amount for each year. Carry all decimals in calculations; round final answers to the nearest dollar

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