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Exact Photo Service purchased a new color printer at the beginning of Year 1 for $38,900. The printer is expected to have a four-year useful
Exact Photo Service purchased a new color printer at the beginning of Year 1 for $38,900. The printer is expected to have a four-year useful life and a $3,890 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 Year 4 Total 551,700 483,000 382,200 392,200 1,809,100 The printer was sold at the end of Year 4 for $4,190. 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. X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round your intermediate calculations. Round final answers to the nearest whole dollar amount.) Double- Declining Balance $ 19,450 $ 9,725 Year 1 Year 2 Year 3 Year 14 $ 4,863 $ 2,432 X X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the depreciation expense for each of the four years, using units-of-production de three decimal places. Round other intermediate calculations and your final answers to the Year 1 Year 2 Units-of- Production $ 12,877 X $ 11,273 X $ 8,921 X $ 1,940 X $ Year 3 I Year 4 Poquiroda Doquired Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the amount of gain or loss from the sale of the asset under each of the depreciat deducted should be indicated with minus sign.) Depreciation Methods Double-Declining Balance Units-of-Production Amount Effect $ 1,759 X Gain $ 2,250 X Gain
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