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On January 2,2023, Crane Company acquired equipment to be used in its manufacturing operations. The...

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Accounting

On January 2,2023, Crane Company acquired equipment to be used in its manufacturing operations. The equipment has an estimated
useful life of 10 years and an estimated salvage value of $45600. The depreciation applicable to this equipment was $218400 for
2026, computed under the sum-of-the-years'-digits method. What was the acquisition cost of the equipment?
$1716000
$1670400
$1761600
$1688800
image

Answer & Explanation Solved by verified expert
3.9 Ratings (440 Votes)
To find the acquisition cost of the equipment we need to use the sumoftheyearsdigits SYD method for depreciation Heres how you can calculate it SumoftheYearsDigits Method 1 Calculate the    See Answer
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