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Oriole Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $165,000. The company estimated that
Oriole Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $165,000. The company estimated that the machine would have a salvage value of $12.000 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 20.000 hours. Year-end is December 31 Compute the depreciation expense under the following methods. Each of the following should be considered unrelated. (Round depreciation rate per hour to 2 decimal places, es 5.35 for computational purposes. Round your answers to decimal places, eg 45,892) Straight-line depreciation for 2020 $ (b) Activity method for 2020, assuming that machine usage was 720 hours Id Sum-of-the-years-digits for 2021 fa) $ 5 $ (d) Double-declining-balance for 2021
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