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Mountain View Resorts purchased equipment at the beginning of 2021 for $35,000. Residual value at the end of an estimated four-year service life is expected
Mountain View Resorts purchased equipment at the beginning of 2021 for $35,000. Residual value at the end of an estimated four-year service life is expected to be $9,000. The machine operated for 2,700 hours in the first year and the company expects the machine to operate for a total of 10,000 hours over its four-year life.Calculate depreciation expense for 2021, using each of the following depreciation methods: (1) straight-line, (2) double-declining-balance, and (3) activity-based. (Round your intermediate calculations to 2 decimal places.)
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