I need help please ### Depreciation Calculation Using Double-Declining-Balance Method**Context:**Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,600. The machine's useful life is estimated at 20 years, or 393,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,300 units of product.**Objective:**Determine the machine’s second-year depreciation using the double-declining-balance method.**Steps for Calculation:**1. **Calculate the Depreciation Rate:** The double-declining-balance method applies depreciation at double the straight-line rate. - Straight-line rate = 1 / Useful life - Double-declining-balance rate = 2 x Straight-line rate2. **Determine First Year’s Depreciation:** - Apply the double-declining-balance rate on the initial cost (not reducing for salvage value).3. **Determine Second Year’s Depreciation:** - Subtract the first year’s depreciation from the original cost to get the book value at the beginning of the second year. - Apply the double-declining-balance rate to this book value for the second year’s depreciation.**Table Explanation:**| Double-declining-balance Depreciation | | | Annual Depreciation Expense ||---------------------------------------|-----------------------------|----------------------|----------------------------|| **Choose Factors:** | **x** | **Choose Factor(%):**| || First year's depreciation | | Depreciation expense | || Second year's depreciation | | | |- The table provides a structured way to fill in and calculate the necessary factors and annual depreciation expenses.- In each row, the given book value and calculated rate are multiplied to derive the depreciation expense for that specific year.### Example:1. **Straight-line rate calculation:** Since the machine has a useful life of 20 years: \[ \text{Straight-line rate} = \frac{1}{20} = 0.05 \text{ or } 5\% \] Therefore, the double-declining-balance rate: \[ 2 \times 5\% = 10\% \]2. **First Year Depreci

Name: I need help please ### Depreciation Calculation Using Double-Declining
Uploaded: 2022-05-24T13:26:03.000Z
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Description: I need help please ### Depreciation Calculation Using Double-Declining-Balance Method**Context:**Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,600. The machine's useful life

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Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,600. The machine's useful life is estimated at 20 years, or 393,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,300 units of product. Determine the machine's second-year depreciation using the double-declining-balance method. Double-declining-balance Depreciation Annual Depreciation Expense = Depreciation expense Choose Factors: Choose Factor(%) First year's depreciation Second year's depreciation %3!