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On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $54,000. Residual value at the end of an estimated four-year service life is expected to
On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $54,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. The company expects the equipment to operate for 20,000 hours. The equipment operated for 3,400 and 4.200 hours in 2021 and 2022 , respectively. Required: a. Colculate depreciation expense for 2021 and 2022 using straight-ine method. b. Calculate depreciation expense for 2021 and 2022 using double-declining balance method. c. Caiculate depreciation expense for 2021 and 2022 using units-of-production using hours operated. Complete this question by entering your answers in the tabs below. Calculate deprociation expense for 2021 and 2022 using straight-line method
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