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Find the gross earnings of the employee by first finding the daily hourly earnings and then finding the daily piecework earnings. The employee has an 8-hour workday and is paid $.75 for each unit of production or the hourly rate, whichever is higher.
A lumber company purchases and installs a wood chipper for $200,000. The chipper is classified as MACRS 7-year property. Its useful life is 10 years. The estimated salvage value at the end of 10 years is$25,000. Using straight-line depreciation, compute the first-year depreciation.
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