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am Winter 2024 Question 15 of 21 Current Attempt in...

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Accounting

am Winter 2024
Question 15 of 21
Current Attempt in Progress
On January 1,2022, Wildhorse Company, a small machine-tool manufacturer, acquired a piece of new industrial equipment for $1,960,000. The new equipment had a useful life of 5 years, and the salvage value was estimated to be $40,000. Willhorse estimates that the new equipment can produce 10,000 machine tools in its first year. It estimates that production will decline by 1,000 units per year over the remaining useful life of the equipment.
The following depreciation methods may be used: (1) straight-line, (2) double-declining-balance (3) sum-of-the-years-digits, and (4) units of output.
(a)
Which depreciation method would maximize net income for financial statement reporting for the three-year period ended December 31,2024?
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