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Compute the double-declining-balance depreciation

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Q1. The Weber Company purchased a mining site for $543,638 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 86,308 tons will be recovered. During the first year the company extracted 6,083 tons of ore. Compute the depletion expense?

a. $48,643.10

b. $38,322.90

c. $34,283.73

d. $57,207.00

Q2. Machinery was purchased on January 1 for $72,000. The machinery has an estimated life of 7 years and an estimated salvage value of $9,000. Compute the double-declining-balance depreciation for the second year?

a. $14,193.88

b. $14,693.88

c. $13,693.88

d. $15,693.88

Reference no: EM132734790

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