1. The cost of an asset is $1,160,000 and its residual value is $200,000. The...
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Accounting
1. The cost of an asset is $1,160,000 and its residual value is $200,000. The estimated useful life of the asset is ten years. Calculate depreciation for the first year using the doubledecliningbalance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
a. 232,000
b. 116,000
c. 96,000
d. 192,000
2. On January 1, 2018, Tyson Manufacturing Company purchased a machine for $40,500,000.Tyson's management expects to use the machine for 28,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $43,000. The machine was used for 4,200 hours in 2018 and 6,000 hours in 2019. What is the depreciation expense for 2018 if the company uses the unitsofproduction method of depreciation? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A.$13,500,000
B. $6,068,538
C.$6,075,006
D. $8,669,340
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