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please show work Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. Ramirez Company installs

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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $85,400. The machine's useful life is estimated at 20 years, or 402,000 units of product, with a $5,000 salvage value. During its second year, the machine produces 34,200 units of product. Exercise 8-4 Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: Choose Denominator: Depreciation expense Total units of production Beginning book value 4.270 85,400 20 $ $ Year 2 Depreciation 75,400 80,400 Year end book value (Year 2) $ QS 8-5 Computing revised depreciation LO C2 On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $67,400. The band estimates it will use this equipment for five years. It estimates that after five years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment will last only a total of three years. The salvage value remains unchanged. Compute the revised depreciation for both the second and third years. Book value at point of revision 13,080 Remaining depreciable cost Depreciation per year for years 2 and 3 4,432

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