The answers in the white boxes are currently wrong

% T19-2 (book/static) Question Help 2. On January 1, Alamo Cranes purchased a crane for $140,000. Alamo expects the crane to remain useful for six years (1,000,000 lifts) and to have a residual value of $2,000. The company expects the crane to be used for 80,000 lifts the first year. Read the requirements. a. Compute the first-year depreciation expense on the crane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation on the crane using the straight-line method. Then enter the amounts and calculate the depreciation for the first year. Cost Residual value Useful life = Straight-line depreciation 140.000 2,000 6 23,000 b. Compute the first-year depreciation expense on the crane using the units-of-production method. Before calculating the first-year depreciation on the crane using the units-of-production method, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation per unit. (Round depreciation per unit to two decimals, X.XX.) Residual value ) Useful life in units Depreciation per unit 140.000 2,000 1,000,000 0.14 Cost Now, select the formula, enter the amounts, and calculate the company's first-year depreciation on the crane using the units-of-production method. (Round depreciation expense to the nearest whole dollar.) Depreciation per unit 0.14 Current year usage 80,000 Units-of-production depreciation $ 11,200 c. Compute the first-year and second-year depreciation expense on the crane using the double-declining-balance method. Begin by selecting the formula to calculate the company's first-year and second-year depreciation on the crane using the double-declining-balance method. Then enter the amounts and calculate the depreciation for the first year. Finally, enter the amounts and calculate the depreciation for the second year. (Enter "O" for items with a zero value. Do not round the interim calculation. Round depreciation expense to the nearest whole dollar.) Double-declining Cost Accumulated depreciation ) 2 x (1 - Useful life) = balance depreciation Requirements Yr1 140,000 46667 2(1-6) 31111 Compute the first-year depreciation expense on the crane using the following methods a. Straight-line b. Units-of-production (Round depreciation per unit to two decimals. Round depreciation expense to the nearest whole dollar.) Compute the first-year and second-year depreciation expense on the crane using the following method: c. Double-declining balance (Round depreciation expense to the nearest whole dollar.) Choose from any list or enter any number in the input fields and then click Check Answer. part remaining Clear All Final Check