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help On January 1, 2018, a machine was purchased for $95,000. The machine has an estimated salvage value of $5,900 and an estimated useful life
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On January 1, 2018, a machine was purchased for $95,000. The machine has an estimated salvage value of $5,900 and an estimated useful life of 5 years. The machine can operate for 110,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2018, 22,000 hrs: 2019.27.500 hrs: 2020, 16,500 hrs: 2021, 33,000 hrs; and 2022, 11,000 hrs. Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods. (Round answers to decimal places, eg. 45,892.) Year Straight-line Method Sum-of-the-years-digits method Double-declining-balance method 2018 $ $ $ 2019 2020 2021 2022 2023 4. Double-Declining-Balance Method Year 2018 $ 2019 $ 2020 $ TORNO 2021 $ 2022 $ Step by Step Solution
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