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Compute the book value of the drill press

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Question - On January 1, 2018, Hobart Mfg. Co. purchased a drill press at a cost of $45,900. The drill press is expected to last 10 years and has a residual value of $6,900. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2018 and 2019, 29,500 and 93,000 units, respectively, were produced.

Required - Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the double-declining-balance method is used.

Reference no: EM132529213

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