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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 2018 for
Required information [The following information applies to the questions displayed below.] Exact Photo Service purchased a new color printer at the beginning of 2018 for $38,900. The printer is expected to have a four-year useful life and a $1,556 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: 2018 2019 2020 2021 Total 554,200 482,300 381,900 390,700 1,809,100 The printer was sold at the end of 2021 for $2.006. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. (Amounts to be deducted should be indicated with minus sign.) Amount Effect Depreciation Methods Double-Declining Balance Units-of-Production
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