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Calculate what the depreciation expense

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Question - On January 1, 2020, Rasmus Mining Ltd. purchased new mining equipment costing $427,000, which will be depreciated on the assumption that the equipment will be useful for four years and have a residual value of $27,400 when the company is finished using it. The estimated output from this equipment, in tonnes, is as follows: 2020-104,800; 2021-31,700; 2022-102,600; 2023-56,900. The company is now considering possible methods of depreciation for this asset.

Required - Calculate what the depreciation expense would be for each year of the asset's life, if the company chooses:

The straight-line method

The units-of-production method

The double-diminishing-balance method

Reference no: EM132886400

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