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Duluth Ranch, Inc. purchased a machine on January 1, 2018. The cost of the machine was $21,500. Its estimated residual value was $6,500 at the

Duluth Ranch, Inc. purchased a machine on January 1, 2018. The cost of the machine was $21,500. Its estimated residual value was $6,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. The company produced 850 units in 2018 and 1,300 units in 2019.

  1. Calculate depreciation expense for 2018 through 2022 using the double-declining balance method.

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