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Determine the amount of depreciation expense

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Reference no: EM13928289

Ramer Inc. manufactures sporting goods. The following information applies to a machine purchased on January 1, 2013:

Purchase price ............ $ 80,000
Delivery cost ............ $ 2,500
Installation charge .......... $ 850
Estimated life ............ 5 years
Estimated units ............ 160,000
Salvage estimate ........... $ 3,350

During 2013, the machine produced 35,000 units and during 2014, it produced 36,000 units. 

Required: 

Determine the amount of depreciation expense for 2013 and 2014 using each of the following methods:

a. Straight line. 
b. Double declining balance. 
c. Units of production. 
d. MACRS, assuming that the machine is classified as seven year property. 

Reference no: EM13928289

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