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Calculate the book value of the machine

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On January 1, 2015, Hernandez Manufacturing Corporation purchased a machine for $40,000,000. The corporation expects to use the machine for 24,000 hours over the next 6 years. The estimated residual value of the machine at the end of the sixth year is $40,000. The corporation used the machine for 4,000 hours in 2015 and 5,000 hours in 2016.

Question 1: Calculate the book value of the machine at the end of 2015 if the company uses the units-of-production method of depreciation.

Option a. $33,340,000

Option b. $24,352,951

Option c. $28,532,688

Option d. $37,777,778

Reference no: EM132463802

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