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On January 3, 2023, Xenex Innovations purchased computer equipment for $132,000. The equipment will be used in research and development activities for five years or
On January 3, 2023, Xenex Innovations purchased computer equipment for $132,000. The equipment will be used in research and development activities for five years or a total of 10,000 hours and then sold for about $18,000. Assume actual usage in hours of:
2023 2024 2025 2026 2027 1,500 1,810 2,700 4,010 3,000Required: Calculate depreciation expense and book values for each year of the equipments life for each method of depreciation using the table provided below. Xenexs year-end is December 31. (Do not round intermediate calculations.)
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