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On January 1, 2020, a machine was purchased for $115,000. The machine has an estimated residual value of $8,800 and an estimated useful life of
On January 1, 2020, a machine was purchased for $115,000. The machine has an estimated residual value of $8,800 and an estimated useful life of 5 years. The machine can operate for 118,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2020,23,600 hours; 2021, 29,500 hours; 2022, 17,700 hours; 2023, 35,400 hours: and 2024,11,800 hours. Assume a fiscal year-end of September 30. Compute the annual depreciation charges over the asset's life applying each of the following methods. (Round answers to O decimal ploces, eg. 45.892.)
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