On April 8, Year 1, Dreamland Park purchased a Ferris wheel for $300,000. The estimated life of the Ferris wheel was 10 years, with an estimated residual value of $60,000. The service life in terms of output is estimated at 30,000 hours of operation.
Compute the depreciation on this Ferris wheel in Year 1 and Year 2 using the following methods.

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The Answer of On April 8, Year 1, Dreamland Park purchased a Ferris wheel for $300,000. The estimated life of the Ferris wheel was 10 years, with an estimated residual value of $60,000. The service life in terms of output is estimated at 30,000 hours of operation.
Compute the depreciation on this Ferris wheel in Year 1 and Year 2 using the following methods.

On April 8, Year 1, Dreamland Park Purchased a Ferris