please solve with very detailed steps. correct answer is provided

solve for 16C

A company purchased a rope-braiding machine for $190,000. The machine has a useful life of cight yean and a residual value of $10,000. As shown below, it is estimated at the time of acquisition that the machine will produce 750.000 units of climbing rope over its 8 year useful life. 16c. Using the units of production method, what is the depreciation expense that should be recorded for Year 8 ? A) $23,275 B) $21,991 C) 522,932 D) $21,661 E) NOTA A company purchased a rope-braiding machine for $190,000. The machine has a useful life of eight years and a residual value of $10,000. As shown below, it is estimated at the time of acquisition that the machine will produce 750,000 units of climbing rope over its 8 year useful life. 16a. Assume the company uses the units of production method, calculate the depreciation expense for Year 2. A) $22,215 B) $22,104 C) 544,040 D) $23,332 E) NOTA 16b. What is the net book value (NBV) at the end of Year 4 on this machine? A) $89,474 B) $100,919 C) $100,526 D) $90,526 E) $90,919 A company purchased a rope-braiding machine for $190,000. The machine has a useful life of eight years and a residual value of $10,000. As shown below, it is estimated at the time of acquisition that the machine will produce 750,000 units of climbing rope over its 8 year useful life. 16a. Assume the company uses the units of production method, calculate the depreciation expense for Year 2. A) $22,215 B) $22,104 C) 544,040 D) $23,332 E) NOTA 16b. What is the net book value (NBV) at the end of Year 4 on this machine? A) $89,474 B) $100,919 C) $100,526 D) $90,526 E) $90,919 A company purchased a rope-braiding machine for $190.000. The machine has a useful life of eight yeans and a residual value of $10,000. As shown below, it is estimated at the time of acquisition that the machine will prodace 750,000 units of elimbing rope over its 8 year useful life. 16c. Using the units of production method, what is the depreciation expense that should be recorded for Year 8 ? A) $23,275 B) 921,991 C) $22,932 D) 521,661 E) NOTA for Year 8 ? A) $23,275 B) $21,991 C) $22,932 D) $21,661 E) NOTA Pro Tip: Consider these different approaches to reach the same conclusion: At the end of year 7, how many units remained before hitting the max? 750,000658,37191,629 OR In year 8 , by what quantity was the max exceeded? 755,352750,000=5,352 Of the 96.981 units produced in year 8 . how many can be depreciated? 96,9815,352=91,629 KEY: 1. B 2. B 3.C 4. A 5, C 6.B 7. A 8.D 9. C 10. B 11. D 12. C 13. B 14. B 15. D 16a. B 16b. C 16c. 17a,b,c,d (see below). 17a. false (a/c 505 is $0!) 17b. C [if you missed this, continue and answer 17c and 17d and then return to 17b ] 17c. False (you could determine the total number of copies made over the asset's life but not how many copies per year or how many total years). 17d. B. .09 cents of depreciation recorded each year per copy. i.e., .09 \# copies - cumulative depreciation recorded $13,320 of accumulated depreciation through 20X0. S13,320 - .09X [ X is \# copies through 20X0] $13,320/.09=148,000 copies already made during the asset's life through 20X0. Limit! There is a max of 160,000 copies on this asset \& 148,000 copies have already occurred! This means only 12,000 copies remain to be depreciated in 20X1 and later. 148.000+12,000=160,000max. Because of this, the depreciation calculated for 20X1 was limited (Q17b): 14,000 copies made in 20X1 but only 12,000 could be depreciated before reaching the maximum \# copies: 12,000 copies in 20X1 (limited) * .09 per copy =$1,08020X1 depreciation