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Depreciation Methods after 4 years the machine can be sold for $29,000. Loeffler uses the machine for 2,300 and 2,800 machine hours in 2023 and

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Depreciation Methods after 4 years the machine can be sold for $29,000. Loeffler uses the machine for 2,300 and 2,800 machine hours in 2023 and 2024 , respectively. Required: Compute depreciation expense for 2023 and 2024 using the: 1. Straight-line method of depreciation. 2. Double-declining-balance method of depreciation. 3. Units-of-production method of depreciation

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