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On January 1, 2019, Bryant purchases equipment for $50,000 cash.The equipment has an estimated service life of 5 years and estimated residual value of $5,000
- On January 1, 2019, Bryant purchases equipment for $50,000 cash.The equipment has an estimated service life of 5 years and estimated residual value of $5,000 with an estimated production of 100,000 units.
Calculate depreciation expensefor each year of the asset's service lifeunder each alternative method:
a. Straight-line
b. Double-declining balance
c. Units-of-production with the following production schedule
2019 10,000
2020 40,000
2021 15,000
2022 30,000
2023 5,000
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