Drake Corporation bought a machine at the beginning of the year at a cost of...
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Accounting
Drake Corporation bought a machine at the beginning of the year at a cost of S50,000. The estimated useful life was five years and the residual value was $5,000. Assume that the estimated productive life of the machine is 10,000 units. Expected annual production for year 1 is 3,000 units; year 2 is 2,000 units; year 3 is 1,800 units; year 4 is 1,700 units; and year 5 is 1,500 units. What is Depreciation Expense for year 5 under the double-declining-balance method? $1,912 $1,480 O $2,592 $2,765
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