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On January 1, 2018, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's management expects to use the machine for 33,000 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 4000 hours in 2018 and 5500 hours in 2019. What is the depreciation expense for 2018 if the corporation 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) $4,842,800 B) $13,333,333 C) $6,658,850 D) $4,848,480

On January 1, 2018, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's management expects to use the machine for 33,000 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 4000 hours in 2018 and 5500 hours in 2019. What is the depreciation expense for 2018 if the corporation 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) $4,842,800 B) $13,333,333 C) $6,658,850 D) $4,848,480

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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On January 1, 2018, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's management expects to use the machine for 33,000 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 4000 hours in 2018 and 5500 hours in 2019. What is the depreciation expense for 2018 if the corporation 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) $4,842,800

B) $13,333,333

C) $6,658,850

D) $4,848,480

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