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hello, I need help with this question!! thank you! HW Problem 8.1 - Oil Company purchased a new pump for $99,000 on 1/1/X1. The pump
hello, I need help with this question!! thank you!
HW Problem 8.1 - Oil Company purchased a new pump for $99,000 on 1/1/X1. The pump has an expected life of 4 years or 1,000,000 gallons, and an expected salvage value of $9,000. Calculate the annual depreciation over the life of the new pump using the straight-line, double-declining balance, and units of production methods. Assume that 225,000 gallons were pumped in 20X1,300,000 in 20X2, 290,000 in 20X3, and 240,000 in 20X4. Be sure to show your work. When you're done, enter the annual depreciation into the following table. DDB Straight-Line Units Year 1 2 3 4 TotalStep by Step Solution
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