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On April 22, 2020, Blossom Enterprises purchased equipment for $129,600. The company expects to use the equipment for 10,500 working hours during its 4-year life
On April 22, 2020, Blossom Enterprises purchased equipment for $129,600. The company expects to use the equipment for 10,500 working hours during its 4-year life and that it will have a residual value of $12,000. Blossom has a December 31 year end and pro- rates depreciation to the nearest month. The actual machine usage was: 1.500 hours in 2020; 2,500 hours in 2021: 3,500 hours in 2022: 2.200 hours in 2023; and 1,000 hours in 2024, Calculate depreciation expense for the life of the asset under double diminishing-balance method. (Round answers to O decimal places, eg. 5,276.) Depreciation Expense 2020 2021 $ 2022 $ 2023 $
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