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A company purchased an equipment system for $325,000 on January 2. The company expects the...

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Accounting

A company purchased an equipment system for $325,000 on January 2. The company expects the equipment to last for eight years or 81,250 hours of operation, with no estimated salvage value. During the first year, the equipment was in operation for 8,000 hours.

Using the units-of-production method calculate the equipments annual depreciation for year 1.

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