Marigold Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $127,500. The company estimated that the machine would have a salvage value of $10,500 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 20,000 hours. Year-end is December 31. Compute the depreciation expense under the following methods. Each of the following should be considered unrelated. (Round depreciation rate per hour to 2 decimal places, e.g. 5.35 for computational purposes. Round your answers to 0 decimal places, e.g. 45,892.) (a)   Straight-line depreciation for 2020   $enter a dollar amount   (b)   Activity method for 2020, assuming that machine usage was 880 hours   $enter a dollar amount   (c)   Sum-of-the-years'-digits for 2021   $enter a dollar amount

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Chapter1: Financial Statements And Business Decisions
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Marigold Corporation purchased a new machine for its assembly process on August 1, 2020. The cost of this machine was $127,500. The company estimated that the machine would have a salvage value of $10,500 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 20,000 hours. Year-end is December 31.

Compute the depreciation expense under the following methods. Each of the following should be considered unrelated. (Round depreciation rate per hour to 2 decimal places, e.g. 5.35 for computational purposes. Round your answers to 0 decimal places, e.g. 45,892.)

(a)  
Straight-line depreciation for 2020
 
$enter a dollar amount
 
(b)  
Activity method for 2020, assuming that machine usage was 880 hours
 
$enter a dollar amount
 
(c)  
Sum-of-the-years'-digits for 2021
 
$enter a dollar amount
 
(d)  
Double-declining-balance for 2021
 
$enter a dollar amount
 
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