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A diesel-powered tractor with a cost of $303,540 and an estimated residual value of $7,200 is expected to have a useful operating life of 86,000 hours. During April, the tractor was operated 400 hours. Determine the depreciation for the month.

A diesel-powered tractor with a cost of $303,540 and an estimated residual value of $7,200 is expected to have a useful operating life of 86,000 hours. During April, the tractor was operated 400 hours. Determine the depreciation for the month.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A diesel-powered tractor with a cost of $303,540 and an estimated residual value of $7,200 is expected to have a useful operating life of 86,000 hours. During April, the tractor was operated 400 hours. Determine the depreciation for the month.
Transcribed Image Text:A diesel-powered tractor with a cost of $303,540 and an estimated residual value of $7,200 is expected to have a useful operating life of 86,000 hours. During April, the tractor was operated 400 hours. Determine the depreciation for the month.
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