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Determine amount of depreciation for first and second years

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Reference no: EM132709481

Problem - Equipment acquired at the beginning of the fiscal year at a cost of $360,000 has an estimated residual value of $45,000 and an estimated useful life of 10 years.

(a) Determine the amount of annual depreciation by the straight-line method.

(b) Determine the amount of depreciation for the first and second years computed by the double-declining-balance method.

Reference no: EM132709481

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