The Hogan Company purchased a machine for $250,000. The company expects the service life to...
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The Hogan Company purchased a machine for $250,000. The company expects the service life to be five years. During that time, its expected that the machine will produce 140,000 units. The anticipated residual value is 40,000. The machine was disposed after five years of use. Actual production during the five years was 24,000 for Year 1, 36,000 for Year 2, 46,000 for Year 3, 8,000 for Year 4 and 16,000 for Year 5. Calculate annual depreciation using the straight-line method
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