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What is the book value of the asset at the end of year two

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A business purchased an asset that had a total cost of $120,000 and a residual value of $5,000. The asset is expected to service the business for a period of 5 years or produce a total of 500,000 units. The machine was purchased on January 1 st of the current year and has been in service one complete year. If the asset produces 150,000 units in year 1 and 125,000 units in year two.

Problem 1: What is the book value of the asset at the end of year two using the units of production method?

a. $56,750
b. $69,000
c. $90,000
d. $59,000

Reference no: EM132749682

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