What is the annual depreciation amount

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Blossom Manufacturing purchased a machine on January 1, 2020 for use in its factory. Blossom paid $660,000 for the machine and estimated that it had a useful life of 10 years, at the end of which time the machine was expected to have a residual value of $30,000. During its life, the machine was expected to produce 360,000 units. During 2020, the machine produced 38,900 units, and produced 54,800 in 2021. The machine was subject to a 20% CCA rate, and Blossom's year-end was December 31.

Problem 1: What is the annual depreciation amount for 2020 and 2021 under the straight-line method.

Problem 2: What is the annual depreciation amount for 2020 and 2021 under the activity method.

Problem 3: What is the annual depreciation amount for 2020 and 2021 under the double-declining balance method.

Problem 4: What is the annual depreciation amount for 2020 and 2021 under the capital cost allowance method.

Reference no: EM132944155

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