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Required Information [The following Information applies to the questions displayed below.] Exact Photo Service purchased a new color printer at the beginning of Year
Required Information [The following Information applies to the questions displayed below.] Exact Photo Service purchased a new color printer at the beginning of Year 1 for $36,480. The printer is expected to have a four-year useful life and a $3,800 salvage value. The expected print production is estimated at $1,774,600 pages. Actual print production for the four years was as follows. Year 1 550,300 Year 2 478,300 Year 3 376,300 Year 4 Total 391,700 1,796,600 The printer was sold at the end of Year 4 for $4,200. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round Intermediate calculations. Round your answers to the nearest whole dollar amount.) Year 1 Year 2 Year 3 Year 4 Total accumulated depreciation Depreciation Expense b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. (Round cost per unit to three decimal places and final answers to the nearest whole dollar amount.) Year 1 Depreciation Expense Year 2 Year 3 Year 4 Total accumulated depreciation $ 0 c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. Double Declining Units of Production Balance
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