On January 1, 2024, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's management expects to use the machine for 29,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $40,000. The machine was used for 4,600 hours in 2024 and 5,700 hours in 2025. What is the depreciation expense for 2024 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.) O A. $13,333,333 O B. $6,344,826 OC. $7,854,201 O D. $6,338,478

On January 1, 2024, Tyson Manufacturing Corporation purchased a machine for $40,000,000. Tyson's management expects to use the machine for 29,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $40,000. The machine was used for 4,600 hours in 2024 and 5,700 hours in 2025. What is the depreciation expense for 2024 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.) O A. $13,333,333 O B. $6,344,826 OC. $7,854,201 O D. $6,338,478

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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