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Crane Ltd. purchased a new machine on April 4, 2014, at a cost of $177,600. The company estimated that the machine would have a residual
Crane Ltd. purchased a new machine on April 4, 2014, at a cost of $177,600. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for 10.100 working hours during its four-year life. Actual machine usage was 1,500 hours in 2014; 2,200 hours in 2015; 2,200 hours in 2016; 2,100 hours in 2017; and 2,100 hours in 2018. Crane has a December 31 year end.
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