Question
Shamrock Company purchases equipment on January 1, Year 1, at a cost of $483,070. The asset is expected to have a service life of 12
Shamrock Company purchases equipment on January 1, Year 1, at a cost of $483,070. The asset is expected to have a service life of 12 years and a salvage value of $41,200. Compute the amount of depreciation for Years 1 through 3 using the straight-line depreciation method. (Round answers to 0 decimal places, e.g. 5,125.) Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years'-digits method. Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method. (Round depreciation rate to 2 decimal places, e.g. 15.84%. Round answers to 0 decimal places, e.g. 45,892.)
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