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Calculate depreciation expense

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Reference no: EM132904175

Question - On April 1, 2020, Ice Drilling Co. purchased a trencher for $175,000. The machine was expected to last five years and have a residual value of $17,500.

Required - Calculate depreciation expense for 2020 and 2021 to the nearest month, using (a) the straight-line method, and (b) the double-declining-balance method. The company has a December 31 year-end.

Reference no: EM132904175

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