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Compute the amount of depreciation

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Reference no: EM133207318

Problem:

Deluxe Ezra Company purchases equipment on January 1, 2020, at a cost of $469,000. The asset is expected to have a service life of 12 years and a salvage value of $40,000.

Instructions:

a) Compute the amount of depreciation for each of 2020, 2021, and 2021 using the straight-line depreciation method.

b) Compute the amount of depreciation for each of 2020, 2021, and 2021 using the sum-of-the-years' digits method.

c) Compute the amount of depreciation for each of 2020, 2021, and 2021 using the double-declining-balance method. (In performing your calculation, round constant percentage to the nearest one-hundredth and round dollar amounts to the nearest dollar.)

Reference no: EM133207318

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