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Determine the depreciation expense

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Question - A firm is considering the purchase of a machine that can create Christmas ornaments from old blocks of wood. The machine has an initial cost of $250,000 and is expected to be salvaged for $10,000 exactly five years from today. Determine the depreciation expense using both straight line method and declining balance method.

Discuss the reasons a firm might choose either one of these methods to depreciate an asset.

Reference no: EM131815669

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