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Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $29,700. The equipment has an
Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $29,700. The equipment has an estimated residual value of $1,200. The equipment is expected to process 257,000 payments over its three-year useful life. Per year, expected payment transactions are 61,680, year 1; 141,350, year 2; and 53,970, year 3. Required: Complete a depreciation schedule for each of the alternative methods. Straight-line. Units-of-production. Double-declining-balance.
3. Double-declining-balance. Complete this question by entering your answers in the tabs below. Complete a depreciation schedule for the units-of-production method. (Do not round intermediate calculations. Round final answers to the nearest whole dollar.)Step by Step Solution
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