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Depreciation by Two Methods; Sale of Fixed Asset New lithographic equipment, acquired at a...

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Accounting

Depreciation by Two Methods; Sale of Fixed Asset
New lithographic equipment, acquired at a cost of $593,750 on March 1 of Year 1(beginning of the fiscal year), has an estimated useful life of five years and antimat residual value of $51,100. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year.
On March 4 of Year 5, the equipment was sold for $87,000.
Required:
Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by the following methods:
a. Straight-line method
\table[[Year,\table[[Depreciation],[Expense]],\table[[Accumulated Depreciation,],[End of Year]],\table[[Book Value,],[End of Year]]],[1,$,$,$
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