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Problem - Depreciation - On January 1, 2020, Kings Landing Corporation purchased a machine for manufacturing crossbow arrows for $54,000. The company expects the machine to last for 3 years or 8,000 units of production, with an estimated residual value of $7,520.
Calculate depreciation and book value for each year of the machine's estimated useful life using the method. The actual production per year is listed below. Space has been provided below to show your calculations. Round to two decimal spaces.
2020................. 4,000
2021............... 2,500
2022.......... 1,500
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