Assume a piece of equipment was purchased July 26, 2016, at a cost of $62,740. The estimated residual value is $6,100 wi

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Assume A Piece Of Equipment Was Purchased July 26 2016 At A Cost Of 62 740 The Estimated Residual Value Is 6 100 Wi 1 (104.4 KiB) Viewed 22 times

Assume a piece of equipment was purchased July 26, 2016, at a cost of $62,740. The estimated residual value is $6,100 with a useful life of 4 years. Assume a production life of 67,000 units. a. Compute the depreciation for years 2016 and 2017 using straight-line. (Do not round intermediate calculations.) 2016 2017 Depreciation expense b. Compute the depreciation for years 2016 and 2017 using units-of-production (in 2016, 5,700 units were produced and in 2017, 18,700 units were produced). (Do not round intermediate calculations. Round your answers to the nearest cent.) 2016 2017 Depreciation expense