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Calculate the annual depreciation

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Reference no: EM131911863

Jim Company bought a machine for $46,900 with an estimated life of 6 years. The residual value of the machine is $6,700. Assume straight-line depreciation.

a. Calculate the annual depreciation.

Annual depreciation           $

b. Calculate the book value at the end of year 3.

Book value           $

Please show your work

Reference no: EM131911863

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