Solve the problem. Round unit depreciation to nearest cent when making the schedule, and round final results to the nearest cent.
A construction company purchased a piece of equipment for $1710. The expected life is 7000 hours, after which it will have a salvage value of $280. Find the amount of depreciation for the first year if the piece of equipment was used for 1600 hours. Use the units-of-production method of depreciation.

A. $320.00
B. $186.67
C. $228.00
D. $390.86


Answer: A

Mathematics

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