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Question - On January 1, 2018, Tyson Manufacturing Company purchased a machine for $40,600,000. Tyson's management expects to use the machine for 28,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $48,000. The machine was used for 4,400 hours in 2018 and 5,700 hours in 2019. What is the depreciation expense for 2018 if the company uses the units of production method of depreciation?
$6,380,000
$13,533,333
$6,372,476
$8,255,253
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