On January 1, Lakewood cranes purchased a crane for $170, 000. lakewood expects the crane to remain useful for four years (800,000 lifts) and to have a residual value of $50,000. the company expects the crane to be used 120, 000 lifts the first year.

compute the first-year expense depreciation expense on the crane using the following methods.

a. straight-line b. units-of production c. double-declining balance

2. On Jansary 1, Lakewood Cranes purchased a crana for $170, 000. Lakewood expacts the crane to remin usefal for four years (830,000 tsad to have a nesidal vadue of $50.coo The campary orpects te ase is be sed 120,000 lifts the first year Compute the Srst-year depreciation expanse on tha crane using the folowing methods a. Straight-Ii b. Units of production IRound depreciation par urst to teo decimals Round depreciation eapense to the neanst whole dalar) c. Double-decining-balance Round depreciation expense to the nearest whole dollst ) a. Compute the first-year dapreclation expense on the crarne using Tha straight-ina mathod Begin by selecting the tormuls to calculate Tha company's fiest yer deprecistion on the erans ssing the stisigntihe method Then anter the ancunes and cakcalate the derociation for the Iret your b. Compute tha fest-year deprociation mpense on the crws using the unhs ol prodacton matod Betore caiculaning the frst-year depreciation on The crana uaing the in Round depieciation per unit to hw decimasXxx Choose vrom any leit or erter any rumber n tme rpuit telos an then commus he net