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Calculate depreciation expense under straight-line method

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Troy Ltd purchased a new machine on 1 October 2016 at a cost of $114,000. The entity estimated that the machine has a residual value of $18,000. The machine is expected to be used for 20,000 working hours during its 5-year life.

Problem 1: Calculate the depreciation expense under the straight-line method for 2016 and 2017, assuming a 31 December year-end.

Reference no: EM132739950

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