Mendocino Gas and Storage
Mendocino Gas and Storage uses the units-of-production method of depreciation. A piece of equipment costing $112,500 has 360,000 estimated hours of operation and an estimated scrap value of $8,100. It operated 56,000 hours in the first year.
-Refer to Mendocino Gas and Storage. Compute the book value at the end of the first year.
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