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On January 1,2024 , Canseco Plumbing Fixtures purchased equipment for ( $ 40,000 ). Residual value at the end of an estimated fouryear service life
On January 1,2024 , Canseco Plumbing Fixtures purchased equipment for \\( \\$ 40,000 \\). Residual value at the end of an estimated fouryear service life is expected to be \\( \\$ 4,000 \\). The company expects the equipment to operate for 20,000 hours. The equipment operated for 2,700 and 3,500 hours in 2024 and 2025 , respectively. Required: a. Calculate depreciation expense for 2024 and 2025 using straight-line method. b. Calculate depreciation expense for 2024 and 2025 using double-declining-balance method. c. Calculate depreciation expense for 2024 and 2025 using units-of-production using hours operated
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