Norwood, Inc purchased a crane at a cost of $80,000 . The crane has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was purchased on January 1, 2016 and was used 2,700 hours in 2016 and 2,600 hours in 2017. Refer to the information about Norwood, Inc If Norwood uses the units-of-production method, what is the depreciation rate per
hour for the equipment?
a. $4.00
b. $5.00
c. $6.00
d. $7.50
c
Business
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A _____ is an entity that is either benefited or burdened by the actions of a corporation.
Fill in the blank(s) with the appropriate word(s).
Business
Members of which of the following pairs of terms are synonymous?
A) Interim financing and construction loan B) Construction loan and passthrough loan C) Pass-through loan and takeout loan D) Takeout loan and construction loan
Business