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What would the gain or loss under each method

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Question - Kelly's Fitness Center purchased a new step machine for $16,500. The apparatus is expected to last four years and have a residual value of $1,500.

What will the depreciation expense be for the FIRST YEAR under:

(a) the straight-line method?      

(b) the double declining-balance method

(c) the production method (estimated useful hours is 10, 000 hours and was used for 2,400 hours in the first year).

(d) If the asset was disposed of at the end of the year for $10,000, what would the gain or loss under each method?

Reference no: EM133187765

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