A company purchased equipment for $84,000. It uses the units-of-activity method for depreciating its trucks...
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Accounting
A company purchased equipment for $84,000. It uses the units-of-activity method for depreciating its trucks and it expects the equipment to produce 1,000,000 units over its useful life. Salvage value is estimated to be $12,000. If the equipment produces 80,000 units in its first year, how much depreciation expense should the company record in the equipment's first year?
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