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IV. Plant, Property & Equipment (LLS 8) Harrington Inc. purchased a machine for the at the beginning of 2022 for $17,500. Harrington, incurred $300 in
IV. Plant, Property & Equipment (LLS 8) Harrington Inc. purchased a machine for the at the beginning of 2022 for $17,500. Harrington, incurred $300 in delivery charges and $500 in installation charges. Harrington estimates that the machine will last 8 years or can be used to produce 150,000 units of production. Harrington expects the residual value to be $3,000. Required: In 2022, 2023, and 2024, Harrington produced 18,000 units, 21,000 units, and 24,000 units, respectively. Determine the depreciation expense for 2022, 2023, and 2024, assuming (a) the Straight-Line Method; (b) the Usage Method; and, (c) the Double Declining Method. Be sure to show your work. Depreciation Expense 2022 2023 2024 S/L $1,913 $1,913 $1,913 3 pts Usage $1,836 $2,142 $2,448 3 pts DDB $4,575 $3,431 $2,573 4 pts
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