On May 1, 2025, Crane Company purchased factory equipment for $739700. The asset's useful life in hours is estimated to be 190000. The estimated salvage value is $35000 and the estimated useful life in years is 9. The machine was used for 19000 hours in the first year. If the activity method is used, what is depreciation expense for 2025? (Round the depreciation rate to 4 decimal places e.g. 15.2578.) O $52200 O $70469 O $78300 $74269

On May 1, 2025, Crane Company purchased factory equipment for $739700. The asset's useful life in hours is estimated to be 190000. The estimated salvage value is $35000 and the estimated useful life in years is 9. The machine was used for 19000 hours in the first year. If the activity method is used, what is depreciation expense for 2025? (Round the depreciation rate to 4 decimal places e.g. 15.2578.) O $52200 O $70469 O $78300 $74269

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Description: On May 1, 2025, Crane Company purchased factory equipment for $739700. The asset's useful life in hours is estimated to be190000. The estimated salvage value is $35000 and the estimated useful life in years is 9. The machine was used for 19000 hours

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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