Business, 29.07.2020 20:01 mariahdixon80

A company paid $518,000 to purchase equipment and $16,800 to have the equipment delivered to and installed in the company's production facilities. The equipment is expected to be used a total of 29,800 hours throughout its estimated useful life of six years. The estimated residual value of the equipment is $6,800. The company began using the equipment on May 1, 2018. The company has an October 31, 2018 year-end. It used the equipment for a total of 13,000 hours between May 1 and October 31, 2018. Using the units-of-production method, what amount of depreciation expense would the company report in the income statement prepared for the year-ended October 31, 2018?

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A company paid $518,000 to purchase equipment and $16,800 to have the equipment delivered to and ins...