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Harding Corporation acquired real estate that contained land, building and equipment The property cost Harding...

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Accounting

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Harding Corporation acquired real estate that contained land, building and equipment The property cost Harding $2,565,000. Harding paid $770,000 and issued a note payable for the remainder of the cost An appraisal of the property reported the following values Land, $814,000; Building. $2,420,000 and Equipment, $1,606,000. (Round your intermediate percentages to the nearest whole number: i.e 0,054231-5%. Do not round any other intermediate calculations.) Assume that Harding uses the units of production method when depreciating its equipment Harding estimates that the purchased equipment will produce 1170.000 units over its 5-year useful life and has salvage value of $19.000. Harding produced 282,000 units with the equipment by the end of the first year of purchase. which amount below is closest to the amount Harding will record for depreciation expense for the equipment in the first book year

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