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Papas Fried Chicken bought equipment on January 2, 2018, for $42,000. The equipment was expected to remain in service for four years and to operate

Papas Fried Chicken bought equipment on January 2, 2018, for $42,000. The equipment was expected to remain in service for four years and to operate for 9,000 hours. At the end of the equipments useful life, Papas estimates that its residual value will be $6,000. The equipment operated for 900 the first year, 2,700 hours the second year, 3,600 hours the third year, and 1,800 hours the fourth year.
Prepare a schedule of depreciation expense, accumulated depreciation, and the book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Three depreciation schedules must be prepared.

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