On May 5, 2009, Lloyd purchased a machine for $84,000. The estimated life of the machine was 10 years, with an estimated residual value of $10,000. The service life in terms of “output” is estimated at 8,000 hours of operation.
Refer to the data above. Assume Lloyd uses 150%-declining-balance depreciation with the half-year convention. Depreciation expense to be recognized in 2009(the year of purchase) is:
a $8,400. b $6,300. c $12,600. d Some other amount.
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