A Company Purchased a Machine on January 1 of the Current

Essay

A company purchased a machine on January 1 of the current year for $750,000.Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours,with a salvage value of $75,000).During the machine's 5-year life its hourly usage was: 3,000; 4,000; 5,000; 5,000; and 3,000 hours.
$$\begin{array} { | c | l | l | l | } \hline \text { Year } & \text { Straight-Line } & \begin{array} { c } \text { Units-of- } \\\text { Production }\end{array} & \begin{array} { c } \text { Double- } \\\text { Declining- } \\\text { Balance }\end{array} \\\hline \text { Year 1 } & \$ & \$ & \$ \\\hline \text { Year 2 } & & & \\\hline \text { Year 3 } & & & \\\hline \text { Year 4 } & & & \\\hline \text { Year 5 } & & & \\\hline \text { Totals } & & & \\\hline\end{array}$$