Equipment with a cost of $360,000 has an estimated residual value of $70,000, and an estimated life
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Question:
Equipment with a cost of $360,000 has an estimated residual value of $70,000, and an estimated life of 12,000 hours and 5 years. What is the amount of depreciation for the first full year using the units-of-production method, during which the equipment was used 2,500 hours?
A. $58,000
B. $72,000
C. $75,000
D. $60,425
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