Required information SB Problem [The following information applies to the questions displayed below.] On January...
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Required information SB Problem [The following information applies to the questions displayed below.] On January 1, 2018, Hobart Mfg. Co. purchased a drill press at a cost of $27,200. The drill press is expected to last 10 years and has a residual value of $5,200. During its 10-year life, the equipment is expected to produce 500,000 units of product. In 2018 and 2019, 21,000 and 76,000 units, respectively, were produced. Problem 11-141 Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the sum-of-the-years'-digits method is used. (Round your intermediate calculations and final answers to the nearest whole dollar amount.)
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