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help me answer this one please 2. On January 1 Inglewood Cranes purchased a crane for $260.000. Inglewood expects the crane to remain useful for
help me answer this one please
2. On January 1 Inglewood Cranes purchased a crane for $260.000. Inglewood expects the crane to remain useful for eight years (1,600,000 lifts) and to have a residual value of $20,000. The company expects the crane to be used for 100,000 lifts the first year Read the requirements (Round depreciation per unit to two decimals, XXX) Cost - Residual value 260000 - 20000 Useful life in units 1600000 - Depreciation per unit Now, select the formula, enter the amounts, and calculate the company's first year depreciation on the crane using the units-of-production method. (Round depreciation expense to the nearest whole dollar) Units-of-production depreciation c. Compute the first year and second-year depreciation expense on the crane using the double-declining balance method Begin by selecting the formula to calculate the company's first year and second-year depreciation on the crane using the double-declining balance method. Then enter the amounts and calculate the depreciation for the first year. Finally, enter the amounts and calculate the depreciation for the second year. (Enter"0" for items with a zero value. Do not round the interim calculation Round depreciation expense to the nearest whole dollar) Double-declining balance depreciationStep by Step Solution
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