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Exact Photo Service purchased a new color printer at the beginning of 2018 for $38000. The printer is expected to have a four-year useful life and a $3500 salvage value The expected print

Exact Photo Service purchased a new color printer at the beginning of 2018 for $38,000. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: 2018...............................................390,000 2019...............................................410,000 2020...............................................420,000 2021...............................................300,000 Total............................................1,520,000 The printer was sold at the end of 2021 for $1,650. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods.

May 21 2020 View more View Less

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