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On January 1, 2017, Coco Co. purchased a machine for $65,000, and expects to use the machine a total of 45,000 hours over the next
On January 1, 2017, Coco Co. purchased a machine for $65,000, and expects to use the machine a total of 45,000 hours over the next four years. The residual value on the machine was set at $3,000. Coco Co.used the machine 32,600 hours in 2017 and 21,500 hours in 2018, 15,100 hours in 2019 and 9,000 hours in 2020. The accumulated amortization at the end of 2020 fiscal year would be: A. $65,000 B. $62,560 C. $62,000 D. $45,000
On January 1, 2017, Coco Co. purchased a machine for $65,000, and expects to use the machine a total of 45,000 hours over the next four years. The residual value on the machine was set at $3,000. Coco Co.used the machine 32,600 hours in 2017 and 21,500 hours in 2018, 15,100 hours in 2019 and 9,000 hours in 2020.
The accumulated amortization at the end of 2020 fiscal year would be:
A.
$65,000
B.
$62,560
C.
$62,000
D.
$45,000
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