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What are the book values for each of the individual years

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Reference no: EM132624330

Question - The Sadie Company purchased a bus to transport its customers. The total cost of the bus is $34,000 with an estimated salvage value of $4,000. The useful life of the bus is 5 years and the bus is expected to operate for 100,000 miles. During the first year of operations, the bus operated for 12,000 miles.

REQUIRED -

a) Calculate the first year's depreciation expense under the following depreciation methods:

i. Straight-Line

ii. Units of Production

iii. Double-Declining-Balance

b) What are the book values for each of the individual years of useful life of the bus under the Double-Declining Balance Method?

Reference no: EM132624330

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