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Exact Photo Service purchased a new color printer at the beginning of 2018 for $40,100. The printer is expected to have a four-year useful life
Exact Photo Service purchased a new color printer at the beginning of 2018 for $40,100. The printer is expected to have a four-year useful life and a $1,604 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: 2018 2019 2020 546,400 476,400 375,500 202138600 Total 1,785,000 The printer was sold at the end of 2021 for $1,804 c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. (Amounts to be deducted should be indicated with minus sign.) Depreciation Methods Amount Effect Double-Declining Balance Units-of-Production
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