(Answered) Question - equipment purchased at the beginning of the

Accounting

Question - Equipment purchased at the beginning of the fiscal year for $840,000 is expected to have a useful life of 10 years, or 400,000 operating hours, and a residual value of $40,000. Compute the depreciation for the first and second years of use by each of the following methods:

a) Straight-line.

b) Units-of-production (10,000 hours first year; 15,000 hours second year).

c) Declining-balance at twice the straight-line rate.

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