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Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $44,000. Its estimated residual value was $14,000 at the

image text in transcribed Duluth Ranch, Incorporated purchased a machine on January 1, 2021. The cost of the machine was $44,000. Its estimated residual value was $14,000 at the end of an estimated 5 -year life. The company expects to produce a total of 20,000 units. The company roduced 1,600 units in 2021 and 2,050 units in 2022. . Calculate depreciation expense for 2021 and 2022 using the straight-line method. . Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. c. Calculate depreciation expense for 2021 through 2025 using the double-declining balance method. Complete this question by entering your answers in the tabs below. Calculate the depreciation expense for 2021 and 2022 using the units-of-production method. (Do not round your intermediate calculations. Round your final answers to the nearest whole dollar.)

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