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Compute depreciation expense

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Question - Depreciation Methods - On January 1, 2019, Loeffler Company acquired a machine at a cost of $302,000. Loeffler estimates that it will use the machine for 4 years or 8,000 machine hours. It estimates that after 4 years the machine can be sold for $14,000. Loeffler uses the machine for 1,700 and 2,000 machine hours in 2019 and 2020, respectively.

Required - Compute depreciation expense for 2019 and 2020 using the:

1. Straight-line method of depreciation.

2. Double-declining-balance method of depreciation.

3. Units-of-production method of depreciation.

Reference no: EM132892265

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