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On October 1, 20X3, the Hall Corporation purchased machinery for $323,000. The estimated service life of the machinery is 10 years and the estimated residual

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On October 1, 20X3, the Hall Corporation purchased machinery for $323,000. The estimated service life of the machinery is 10 years and the estimated residual value is $4,000. The machine is expected to produce 550,000 units during its life. Required: Calculate depreciation for 20X3 and 20X4 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight Line 2. Sum-of-the-years-digits 3. Double Declining

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