Mason Towel
Mason Towel uses the units-of-production method of depreciation. A new knitting machine was purchased for $22,500. It will produce an estimated 800,000 units in its life and has an estimated scrap value of $2,500. It produced 150,000 units in the first year.
-Refer to Mason Towel. Compute the book value at the end of the first year.
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