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Calculate the book value of the machine on December

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Question - On January 1, 2021, if a company purchased a machine for $330,000. In order to use the machine, the company had to spend $10,000 to put it into working condition. Then the machine was assigned a salvage value of $10,000 and a life of twenty years. Assume the double-declining balance method will be used to depreciate the machine. Calculate the book value of the machine on December 31, 2024.

Reference no: EM132894913

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