Jensen Company purchased a new machine on September 1, 2010, at a cost of $120,000. The company estimated that the machi

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Jensen Company purchased a new machine on September 1, 2010, at
a cost of $120,000. The company estimated that the machine has a
salvage value of $8,000. The machine is expected to be used for
70,000 working hours during its 8-year life.
Instructions
Compute depreciation using the following methods in the year
indicated.
(a) Straight-line for 2010 and 2011, assuming
a December 31 year-end.
(b) Declining-balance using double the
straight-line rate for 2010 and 2011.
(c)
Units-of-activity for 2010, assuming machine usage was 2,900 hours.
(Round depreciation per unit to the nearest cent.)