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Posts: 4891
3 years ago
On January 1, 2017, Henry Manufacturing Corporation purchased a machine for $40,600,000. Henry's management expects to use the machine for 34,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $47,000. The machine was used for 4,000 hours in 2017 and 5,400 hours in 2018. Calculate the book value of the machine at the end of 2018 if the company uses the units-of-production method of depreciation. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $29,388,244
B) $35,829,040
C) $40,600,000
D) $29,375,272
Textbook 

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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3 years ago
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wrote...
2 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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2 years ago
In case you need anything else, I'll be around
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