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Use the following to answer the question ( s ) below: On January 1 , 2 0 2 1 , Hobart Mfg . Co .
Use the following to answer the questions below:
On January Hobart Mfg Co purchased a drill press at a cost of $ The drill press
is expected to last years and has a residual value of $ During its year life, the
equipment is expected to produce units of product. In and and
units, respectively, were produced.
Required:
a Compute depreciation for and and the book value of the drill press
December and December assuming the straightline method is used.
b Compute depreciation for and and the book value of the drill press
December and December assuming the doubledecliningbalance
method is used.
c Compute depreciation for and and the book value of the drill press at
December and December assuming the sumoftheyears'digits
method is used.
d Compute depreciation for and and the book value of the drill press
December and December assuming the unitsofproduction method is
used.
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