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Duluth Ranch, Inc. purchased a machine on January 1, 2018. The cost of the machine was $41,000. Its estimated residual value was $13,000 at the
Duluth Ranch, Inc. purchased a machine on January 1, 2018. The cost of the machine was $41,000. Its estimated residual value was $13,000 at the end of an estimated 5-year life. The company expects to produce a total of 20,000 units. The company produced 1,500 units in 2018 and 1,950 units in 2019. Required: a. Calculate depreciation expense for 2018 and 2019 using the straight-line method b. Calculate the depreciation expense for 2018 and 2019 using the units-of-production method. C. Calculate depreciation expense for 2018 through 2022 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Required A Required B Required c Calculate depreciation expense for 2018 and 2019 using the straight-line method
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