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Required information Skip to question [The following information applies to the questions displayed below.] Equipment costing $38,400 with a 8-year useful life and an estimated
Required information
Skip to question
[The following information applies to the questions displayed below.]
Equipment costing $38,400 with a 8-year useful life and an estimated $6,400 salvage value is acquired and started operating on January 1. The equipment is estimated to produce 4,000 units of product during its life. It produced 600 units in the first year.
Compute depreciation for the first year under straight-line, units-of-production, and double-declining-balance.
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