On January 1, 2016 Morrow Inc. purchased a spooler at a cost of $40,000. The...
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On January 1, 2016 Morrow Inc. purchased a spooler at a cost of $40,000. The equipment is expected to last 8 years and have a residual value of $4,000. During its 8 year life, the equipment is expected to produce 250,000 units of product. In 2016 and 2017, 42,000 and 76,000 units respectively were produced. Computer depreciation for 2016 and 2017 and the book value of spooler at December 31, 2016 and 2017, assuming the double declining balance method is used.
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