In: Accounting
Danico Co. purchased a machine on March 1, 2017, for $150,000. Calculate the annual depreciation expense under all three methods (straight-line, units-of-production and double-declining-balance) for each year of the machine’s life (estimated at 5 years or 50,000 hours with a residual value of $15,000). During the machine’s life it was used 15,000; 14,000; 5,000; 9,000 and 6,000 hours.Danico’s year-end is December 31.