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Torge Company bought a machine for $66,500 cash. The estimated useful life was five years, and the estimated residual value was $5,500. Assume that the

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Torge Company bought a machine for $66,500 cash. The estimated useful life was five years, and the estimated residual value was $5,500. Assume that the estimated useful life in productive units is 152,500. Units actually produced were 40,500 in year 1 and 45,750 in year 2 Required: 1. Determine the appropriate amounts to complete the following schedule. Book Value at the End of Depreciation Expense for Year 1 Year 2 Method of Depreciation Year 1 Year 2 Straight-line Units-of-production Double-declining balance 2-a. Which method would result in the lowest net income for Year 1? Units-of-production Straight-line Double-declining balance 2-b. Which method would result in the lowest net income for Year 2? O Units-of-production O Double-declining-balance Straight-line 3. Which method would result in the lowest fixed asset turnover ratio for year 1? Double-declining balance Units-of-production Straight-line

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