(Answered) Question - cheetah copy purchased a new copy machine the

Accounting

Question - Cheetah Copy purchased a new copy machine. The new machine cost $122,000 including installation. The company estimates the equipment will have a residual value of $30,500. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours.

Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.)

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