Calculate depreciation expense for each year of assets life

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Reference no: EM131259914

Alcorp Co. purchased a new machine on July 2, 2016, at a total installed cost of $41,000. The machine has an estimated life of five years and an estimated salvage value of $6,700. Calculate the depreciation expense for each year of the asset's life using Double-declining-balance depreciation. How much depreciation expense should be recorded by Alcorp Co. for its fiscal year ended December 31, 2016, under each of the three methods? (Note: The machine will have been used for one-half of its first year of life.)

Reference no: EM131259914

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