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Depreciation of assets -40 points On January 1, 2023, a company purchased and placed in...

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Accounting

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Depreciation of assets -40 points On January 1, 2023, a company purchased and placed in service some manufacturing equipment with a cost of $480,000. The company estimated the machine's useful life to be 4 years or 210,000 units of output with an estimated salvage value of $50,000. During the first year, 50,000 units were produced. What is the depreciation for the first year of the machine's useful life, assuming the company uses: a. The straight-line method of depreciation b. The units-of-production method of depreciation (round per unit rate to 2 decimal points)

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