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Please help me answer part c. I've been trying for so long and I keep getting it wrong. Depreciation by Three Methods; Partial Years Layton
Please help me answer part c. I've been trying for so long and I keep getting it wrong.
Depreciation by Three Methods; Partial Years Layton Company purchased tool sharpening equipment on October 1 for $62,370. The equipment was expected to have a useful life of three years or 7,560 operating hours, and a residual value of $1,890. The equipment was used for 1,400 hours during Year 1, 2,600 hours in Year 2, 2,300 hours in Year 3, and 1,260 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a Saight lin method 11 c. Double-declining-balance method Year Amount Year 1 Year 2 $ $ $ $ 41,580 x 34,650 x 11,550 x 2,887.5 x Year 3 Year 4Step by Step Solution
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