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rane Limited purchased equipment on February 1 , 2 0 2 4 , at a cost of $ 2 2 2 , 8 8 0

rane Limited purchased equipment on February 1,2024, at a cost of $222,880. As the CFO of the company, you are considering the erits of using the diminishing-balance or units-of-production method of depreciation instead of the straight-line method, which is urrently being used for other equipment. The new equipment has an estimated residual value of $10,000 and an estimated useful life either five years or 88,700 units. Demand for the products produced by the equipment is sporadic so the equipment will be used ore in some years than in others. Assume the equipment produces the following numbers of units each year: 14,200 units in 2024; 8,000 units in 2025; 20,000 units in 2026; 15,000 units in 2027;11,000 units in 2028; and 500 units in 2029. Crane has a December 1 year end.
Your answer is partially correct.
Prepare separate depreciation schedules for the life of the equipment using: (Round depreciation per unit to 2 decimal places, eg.5.28 and final answers to 0 decimal places, e.g.5,275.)
(1) Straight-line method:
(2) Double-diminishing-balance method:
(3) Units-of-production method:
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