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Determine the annual depreciation

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Question - Tomko Company purchased machinery with a list price of $96,000. They were given a 10% discount by the manufacturer. They paid $600 for shipping and sales tax of $4,500. Tomko estimates that the machinery will have a useful life of 10 years and a residual/ salvage/scrap value of $30,000. If Tomko uses straight-line depreciation, determine the annual depreciation?

Reference no: EM133168429

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