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Compute the depreciation and book value at December

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Question - Archie Co. purchased a framing machine for $60,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $5,000 at the end of four years.

Using the sum-of-the-years'-digits method, compute the depreciation for 2021 and book value at December 31, 2021?

Reference no: EM133123377

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