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Machinery is purchased on July 1 of the current fiscal year for $240,000. It is expected to have a useful life of four years, or 25,000 operating hours, and a residual value of $15,000. Compute the depreciation for the last six months of the current fiscal year ending December 31 by each of the following methods:
(a)Straight-line
(b)Double-declining-balance
(c)Units-of-activity
(used for 1,600 hours during the current year)
On May 16, 2024