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Exact Photo Service purchased a new color printer at the beginning of Year 1 for $36,240. The printer is expected to have a four-year
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $36,240. The printer is expected to have a four-year useful life and a $3,300 salvage value. The expected print production is estimated at 1,774,600 pages. Actual print production for the four years was as follows. Year 1 550,300 Year 2 480,500 Year 3 384,500 Year 4 387,300 Total 1,802,600 The printer was sold at the end of Year 4 for $3,450. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. Double Declining Balance Units of Production
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