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On January 1, 2023 a machine is purchased for $100,000. It is expected to have a useful life of 8 years, during which time it
On January 1, 2023 a machine is purchased for $100,000. It is expected to have a useful life of 8 years, during which time it is expected to be used for 20,000 hours. The salvage value is $10,000. It is used for 3,500 hours in 2023 and 4,000 hours in 2024. (The company uses the units-of-production method.) Indicate the following. No supporting computations needed.
A) 2023 Depreciation Expense is: $______
B) The balance of Accumulated Depreciation at 12/31/24 is: $_________
C) The book value at 12/31/24 is: $_________
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