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Calculate the depreciation expense

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Question - Koffman's Warehouse purchased a forklift on January 1, 2017, for $6,000. The forklift is expected to last for five years and have a residual value of $600. Koffman's uses the doubledeclining-balance method for depreciation. Round amounts to the nearest dollar.

Required - Calculate the depreciation expense, accumulated depreciation, and book value for each year of the forklift's life.

Reference no: EM132533773

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