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Calculate the depreciation for each of the three years

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Question 1: Benton Mining Company buys equipment for $440,000. Each piece of equipment lasts for 150,000 hours and has a $40,000 residual value. Benton purchased one piece of equipment in January 2007. The forecasted usage is 60,000 hours in 07, 45,000 hours in 08 and 45,000 hours in 09. The equipment will be sold at the end of the 3rd year for $40,000. Calculate the depreciation for each of the three years using the straight-line, units of production and double declining balance methods.

Reference no: EM132506725

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