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Iansen Supermarkets purchased a radio frequency identification (RFID) system for one of its stores at a cost of $150,000. Hansen determined that the system had

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Iansen Supermarkets purchased a radio frequency identification (RFID) system for one of its stores at a cost of $150,000. Hansen determined that the system had uxpected ife of seven years (or 50,000,000 items scanned) and an expected residual value of $7,500. Required: 1. Determine the amount of depreciation expense for the first and second years of the system's life using the: a. Straight-line method. Round your answer to the nearest whole dollar, and use the rounded amount for subsequent caiculations. Depreciation expense: 1 per year b. Double-declining-balance method: (Round your answers to the nearest whote dollar and do not round intermediate calculations.) 2. If the number of items scanned the first and second years were 7,200,000 and 8,150,000, respectively, compute the amount of depreciation expense for the fint anc second years of the system's life using the units-of-production depreciation method. Round your answers to the nearest whole dollar and do not round intermediate calculations. 3. Compute the book values for all three depreciation methods as of the end of the first and second years of the system's lifo. expected life of seven years (or 50,000,000 items scanned) and an expected residual value of $7,500. Required: 1. Determine the amount of depreciation expense for the first and second years of the system's life using the: a. Straight-line method. Round your answer to the nearest whole dollar, and use the rounded amount for subsequent calculation Depreciation expense: $ per year b. Double-declining-balance method: (Round your answers to the nearest whole dollar and do not round intermediate calculations 2. If the number of items scanned the first and second years were 7,200,000 and 8,150,000, respectively, compute the amount of second years of the system's life using the units-of-production depreciation method. Round your answers to the nearest whole dollar calculations. 3. Compute the book values for all three depreciation methods as of the end of the first and second years of the system's life

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