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Determine the depreciation for the current fiscal year

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Reference no: EM131128081

Sandblasting equipment acquired at a cost of $85,000 has an estimated residual value of $5,000 and an estimated useful life of 10 years. It was placed in service on October 1 of the current fiscal year, which ends on December 31.

Determine the depreciation for the current fiscal year and for the following fiscal year by

(a) The straight-line method and 

(b) The double-declining-balance method.

Reference no: EM131128081

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