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Exact Photo Service purchased a new color printer at the beginning of Year 1 for $42,400. The printer is expected to have a four-year
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $42,400. The printer is expected to have a four-year useful life and a $4,240 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: Year 1 Year 2 Year 3 550,300 477,900 375,100 Year 4 Total 393,400 1,796,700 The printer was sold at the end of Year 4 for $4,690. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. 5 Ints a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. 00:30:32 Complete this question by entering your answers in the tabs below. Hint Required A Required B Required C Print Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not re your intermediate calculations. Round final answers to the nearest whole dollar amount.) Year 1 Double-Declining Balance Year 2 Year 3 Year 4 Required A Required B > Required A Required B Required C Compute the depreciation expense for each of the four years, using units-of-production depreciation. (Round cost per unit to three decimal places. Round other intermediate calculations and your final answers to the nearest dollar.) Year 11 Year 2 Units-of- Production Year 31 Year 41 < Required A Required C > Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. deducted should be indicated with minus sign.) Depreciation Methods Double-Declining Balance Units-of-Production Amount Effect < Required B Required C>
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