Compute the depreciation for the first and second year of use by the straight-line method, units-of-production (1,200 hours first year; 2,250 hours second year), and declining-balance at twice the straight-line rate. Equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of 000.
Compute the depreciation for the first and second year of use by the straight-line method, units-of-production (1,200 hours first year; 2,250 hours second year), and declining-balance at twice the straight-line rate. Equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of 000.
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