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Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $320,000. The estimated useful life was five years
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $320,000. The estimated useful life was five years and the residual value was $50,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production was year 1, 1,700 units; year 2, 1,600 units; year 3, 1,900 units; year 4, 2,400 units; and year 5, 2,400 units. Solar Innovations Corporation uses the units-of-production (activity-based) method of depreciation. Complete the following depreciation table. If necessary, round your interest expense calculations to the nearest whole dollar. Depreciation expense, accumulated depreciated, book value.
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