Depreciation expense using the straight-line method

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Reference no: EM13156640

The Lazy O Ranch just purchased equipment costing $60,000. The equipment is expected to last five years and have no salvage value.

(A) Calcuate the depreciation expense using the straight-line method for the first two years the equipment is owned.

(B) Calcuate the depreciation expense using the double-declining balance method for the first two years the equipment is owned.

Reference no: EM13156640

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