Explain the total accumulated depreciation

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On January 2, 2023, Konrad Corporation acquired equipment for $778,000. The estimated life of the equipment is 5 years or 25,000 hours. The estimated residual value is $11,000. If Konrad Corporation uses the units of production method of depreciation, what will be the total Accumulated Depreciation at December 31, 2024, assuming that the equipment was used 4700 hours in 2023 and 5800 hours in 2024? (Round intermediary calculations to the nearest cent and your final answer to the nearest dollar.)

Reference no: EM133207240

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