TKE Corporation purchased equipment for $1,000,000. Residual value at the end of the estimated 5...
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TKE Corporation purchased equipment for $1,000,000. Residual value at the end of the estimated 5 years or 36,000 hours service life is expected to be $100,000. 1 Using straight-line depreciation, determine the book value at the end of year 3. Using double declining balance depreciation, determine: 2 Depreciation expense for year 2. 3 Depreciation expense for year 3. Using activity-based depreciation, determine: Year Hours used 1 7,300 2. 7,290 3 7,310 4 7,000 5 7,100 4 Depreciation expense for Year 3 Book Value at the end of Year 3 5
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