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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 1
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 $37,370. The printer is expected to have a four-year useful life and a $3,200 salvage value. The expected print production is estimated at $1,774,400 pages. Actual print production for the four years was as follows: Year 1 Year 2 Year 3 552,900 480,400 381,200 Year 4386,90o 1,801,400 Total The printer was sold at the end of Year 4 for $3,550. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. DOB Units-of-production
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