QS 9-7 Calculating depreciation-unit production @ L02 eXcel Papaya, a specialty greeting card company, purchased a photocopier costing $45,000 on January 1, 2020. The equipment is expected to produce a total of 4,000,000 copies over its productive life. Its residual value at the end of its useful life is estimated to be $5,000. The equipment actually produced: Fiscal Year Copies Produced 2020............ 650,000 2021............ 798,000 2022........ 424,000 2023....... 935,000 2024........ 1,193,000 Calculate depreciation for 2020 through to 2024 using the units-of-production method. Papaya's year- end is December 31