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West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for
West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for $942,000, having a useful life of 10 years or 13,860 hours, with a residual value of $249,000. The company's year-end is December 31. Required: Calculate depreciation expense for the fiscal years 2020, 2021, and 2022 by completing a schedule. (Note: Depreciation is calculated to the nearest month. Assume actual hours of service were: 2020, 910; 2021, 1,970; 2022, 1,725.) se for the fiscal years 2020, 2021, and 2022 by completing a schedule. (Note points ( 8 02:15:12 Depreciation Method Double-Declining Straight-Line Balance Year Units-of- Production Skipped 2020 2021 2022
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