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What would be the depreciation expense

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Reference no: EM13337490

The Golden Broom Cleaning Service acquired new equipment:

Cost

$118,400
Residual (Salvage Value) $12,800
Estimated useful Life 8 years or 40,000 Units

Required:

a. Determine the book value of the asset at the end of the THIRD year if the straight-line depreciation method is used.

b. Determine the depreciation expense for the SECOND year assuming double-declining balance depreciation method is used.

c. What would be the depreciation expense for the FIRST year if the units-of-production

depreciation method is used and 6,000 units were produced?

Reference no: EM13337490

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