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Problem #1 Breton Industries Limited installed a machine on September 5, 2020 that cost $335,000 that had a useful life of 5 years. The machine
Problem #1 Breton Industries Limited installed a machine on September 5, 2020 that cost $335,000 that had a useful life of 5 years. The machine has an estimated salvage value at the end of its useful life of $35,000. The company's year-end is December 31. At the time the machine was purchased, it was estimated that the machine could produce 2,000,000 units of product over its useful life. Actual production over the life of the machine was as follows: Year Units 2020 137,000 2021 410,000 2022 455,000 2023 471,000 2024 461,000 2025 150,000 REQUIRED: Calculate depreciation expense over the useful life of this machine under each of the following methods nearest whole month method. Show your calculations on the back of this page. a) Straight-line b) Double Declining Balance c) Units-of-Production
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