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Question
Machinery is purchased on July 1 of the current fiscal year for $240,000. It is expected to have a useful life of 4 years, or 25,000 operating hours, and a residual value of $15,000. Compute the depreciation for the last 6 months of the current fiscal year ending December 31 by each of the following methods:
a. Straight-line
b. Double-declining-balance
c. Units-of-activity (used for 1,600 hours during the current year)
Answer
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