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Calculate the annual depreciation expense for this equipment

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Question - The Waveboard Surf Company recently acquired a new machine to produce its new surfboard. The equipment cost $425,000 and is expected to last for 7 years. At the end of its life, the company expects to sell the equipment for $5,000.

Required -

a) Calculate the annual depreciation expense for this equipment using the straight-line method Show all work.

b) What would the carrying value of the equipment be at the end of year two?

Reference no: EM132987729

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