Company F purchased equipment for 110,000 on 1/1/2020. The equipment has a useful life of...
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Accounting
Company F purchased equipment for 110,000 on 1/1/2020. The equipment has a useful life of 4 years and a residual value of 10,000 and will produce 100,000 total units of production over the useful life. For 2020 the equipment had 25,000 units of production. Using the units-of-production method of depreciation, what is the amount of depreciation expense for 2020?
A. 110,000
B. 100,000
C. 27,500
D. 25,000
E. None of the above
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