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What is the balance in the accumulated depreciation

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Question 1: On 1 January 20X1, MC Ltd acquired equipment for $124,000. The estimated life of the equipment is 3 years or 24,000 hours. The estimated residual value is $10,000. MC Ltd uses the units of production method of depreciation. After accounting for the depreciation for the year ending 31 December 20X2, what is the balance in the accumulated depreciation as of 31 December 20X2, if MC Ltd uses the asset 5,500 hours in 20X1 and 4,500 hours in 20X2?

Group of answer choices

Option i. $26,125.

Option ii. $76,500.

Option iii. $47,500.

Option iv. $19,994.

Reference no: EM132484367

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