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I need help ASAP with part A 1,2,3,and 4. Thank you. On January 1, 2015, a machine was purchased for $99,900. The machine has an
I need help ASAP with part A 1,2,3,and 4. Thank you.
On January 1, 2015, a machine was purchased for $99,900. The machine has an estimated salvage value of $6,660 and an estimated useful life of 5 years. The machine can operate for 111,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22,200 hrs: 2016, 27,750 hrs: 2017, 16,650 hrs: 2018, 33,300 hrs: and 2019, 11,100 hrs. (a) Compute the annual depreciation charges over the machine's life assuming a December 31 year-end for each of the following depreciation methods. (Round answers to 0 decimal places, e.g. 45,892.) Straight-line Method Activity Method Year 2015 2016 2017 2018 2019 (3) Sum-of-the-Years'-Digits Method Year 2015 2016 2017 2018 2019 (4) Double-Declining-Balance Method Year 2015 2016 2017 2018 2019Step by Step Solution
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