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Rino Co. pays $35,000 for equipment. The machine's useful life is estimated at 10 years,...

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Accounting

Rino Co. pays $35,000 for equipment. The machine's useful life is estimated at 10 years, or 50,000 units of product with a $5,000 salvage value. During the first year, the machine produced 12,000 units of product. How much depreciation expense will Rino record this first year based on the units-of-production depreciation method?
Multiple choice question.
$8,400
$3,000
$3,500
$7,200

Answer & Explanation Solved by verified expert
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